The Welsh Government has been urged to make an immediate investment in Anglesey's broadband infrastructure.
According to wireless broadband provider eXwavia, the island - which lies off the north-west tip of the principality - is facing a "business broadband meltdown".
Annette Burgess, Managing Director of the firm, said more needs to be done to support the need for fast and reliable broadband.
"In parts of Anglesey we have talked to people who have internet speeds barely above the old dial-up and yet they are being charged broadband rates by their providers," she stated.
Ms Burgess said the broadband provider is aiming to achieve at least 95 per cent wireless broadband coverage on Anglesey, which will offer speeds between 4Mb and 60Mb.
"But the conventional wire-based broadband is well below what businesses want in certain parts of the island and that could have a detrimental effect on future investment by existing and new businesses," she added.
Ms Burgess said that with more companies requiring improved broadband for cloud computing and large scale data handling, the current infrastructure cannot cope.
"We're now providing the solution with wireless broadband, but the Welsh Government and others need to address the overall problem before it's too late," she argued.