For companies seeking serviced offices and virtual offices, business grade connectivity is increasingly important.
As cloud computing becomes more important and many business functions move online, companies need their offices to be equipped with super-fast broadband and other next-generation network services.
So businesses are looking for city properties that are hooked up to 21st century networks, such as London office space.
The capital is at the forefront of the digital revolution, with companies based in the City able to take advantage of super and ultra-fast services which can boost productivity and have a positive impact on the bottom line.
Investment in broadband networks is making a big difference to London, and helping the city to maintain its international status as a major business hub.
Telecoms giant BT has been praised for the rollout of fibre services across the capital, with a new report claiming the city’s economy will benefit to the tune of £20 billion over the next 15 years.
Regeneris Consulting predicts the upgrade of BT’s broadband network can create 26,000 new jobs in London, helping to strengthen the regional and national economy.
Of the £20 billion, £7.3 billion is expected to come in improved business performance.
A further £11 billion is to be seen through business creation, the report stated, while the facilitation of home working will see almost £1 billion generated.
BT’s super-fast broadband programme has already made the technology available to more than 2.2 million homes and businesses in the capital.
And under existing upgrade plans, this figure is expected to pass the 2.5 million mark by the end of this year.
Colin Stanbridge, chief executive of the London Chamber of Commerce, claimed that first-class communications are “the lifeblood of our capital city”.
He said that is of “particular importance” in this Olympic year, especially to small businesses in areas such as Tech City.
“Our members increasingly depend on fast broadband and BT is making a major contribution to the future prosperity of London,” he stated.
“Its success and impact on the economy underpins London’s success as the digital capital of Europe.”