High-Speed Internet Access Is Valuable for Start-Ups

WASHINGTON, DC - New entrepreneurs can save more than $16,000 in start-up costs if they have access to high-speed broadband Internet, according to a new report released by the Internet Innovation Alliance (IIA) and the Small Business and Entrepreneurship Council (SBE Council).

“Entrepreneurs fuel the economy and job growth,” says Karen Kerrigan, president and CEO of SBE Council. “Fostering U.S. innovation, particularly in the technology sector, is critical to ensuring our country’s continued global leadership and economic competitiveness. Broadband connectivity, particularly through mobile devices, is propelling entrepreneurs and new businesses responsible for creating millions of new jobs every year.”

According to the Kauffman Foundation, young firms were responsible for nearly all the net job creation in the United States between 1980 and 2005. Kauffman estimates that new firms create approximately 3 million jobs each year and have created 40 million new jobs since 1980.

Broadband is lowering the cost and barriers to entry for starting a new business, and access to this powerful resource provides entrepreneurs with innovative tools, new networks and business opportunities.

Top 10 Ways Broadband Saves American Entrepreneurs Money

Savings may also be greater for businesses that tap into broadband for other needs not covered in the study, including purchasing equipment and furniture, using cloud services or marketing products and services.

Broadband-enabled savings, as identified by the analysis, are important for several reasons:

  • Reducing costs associated with starting a business lowers barriers to entrepreneurship.

  • Money and resources saved in one or several areas mean capital can be deployed or invested in revenue-generating activity.

  • Access to capital continues to be tight, so every penny saved counts in helping new businesses preserve capital for new investments, staff or other needs that will help them survive and remain competitive.

  • “Broadband is an invaluable tool that allows entrepreneurs to pull America up by her bootstraps,” says Bruce Mehlman, cochairman of the Internet Innovation Alliance and former Assistant Secretary of Commerce for Technology Policy. “Yet too many communities are still without high-speed Internet or lack robust service. Universal broadband deployment must be a top priority for our nation, and this goal is best met through policies that allow the markets to work.”


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