Hang up on your telecoms provider

If your business is spending more than ever on phone and broadband, now is the time to look around for a better deal.

1950s Businessman talking on four phones at once © Alamy

1950s Businessman talking on four phones at once © Alamy

If your business is spending more than ever on phone and broadband, now is the time to look around for a better deal. The average small and medium-sized enterprise (SME) will spend around £2,050 on telecoms services this year, according to a recent Consumer Intelligence report, up almost 33% on the £1,400 that regulator Ofcom said SMEs typically spent in 2016.

For businesses increasingly dependent on technologies such as high-speed broadband, it's also worrying that more than a third of SMEs describe their telecoms provider's service as average or poor.

For now, Ofcom's data suggests that as few as one in ten SMEs change their telecoms provider each year. But the regulator has sought to encourage switching in recent years for example, by banning providers imposing penalty charges on customers who want to take their business elsewhere. While switching may still be complicated by issues such as fixed-term contracts, it's high time more small businesses looked around for a better deal.

Recommended

The best business bank accounts – November 2022
Small business

The best business bank accounts – November 2022

A crucial element of running any business is ensuring you select the right bank account. We’ve rounded up the best business bank accounts to help you …
15 Nov 2022
Hunt ditches changes to IR35 tax rule
Tax

Hunt ditches changes to IR35 tax rule

The new chancellor has scrapped plans to reform the IR35 tax rule for contractors and freelancers.
7 Oct 2022
Six mistakes to avoid when starting a business
Small business

Six mistakes to avoid when starting a business

Around 60% of new businesses fail within three years, says David Prosser. Here, he outlines six key pitfalls to avoid when starting a business.
21 Sep 2022
Energy bill help for small businesses
Small business

Energy bill help for small businesses

It's not just households struggling with soaring energy bills. Small business are too. But, says David Prosser, there are several ways to help mitigat…
7 Sep 2022

Most Popular

Is it cheaper to leave the heating on low all day?
Personal finance

Is it cheaper to leave the heating on low all day?

The weather is getting colder and energy bills are rising, but is it really cheaper to leave the heating on low all day or should you only turn it on …
1 Dec 2022
Radiator vs electric heater – which is cheaper?
Personal finance

Radiator vs electric heater – which is cheaper?

We compare the costs, pros and cons of radiators and electric heaters and see which one will help keep your energy bill as low as possible.
28 Nov 2022
State pension errors – why tens of thousands of mothers could be missing out on millions in state pension payments
State pensions

State pension errors – why tens of thousands of mothers could be missing out on millions in state pension payments

LCP launches Mothers Missing Millions campaign amid DWP state pension errors.
3 Dec 2022