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Almost half of the UK's business broadband customers are not getting the speeds their provider had promised, a new survey has found.

According to research by Cambridge Broadband Networks (CBNL), 47 per cent of companies are not getting the connection speeds they were told they would receive.

This is having a harmful effect on many firms, with 35 per cent saying slow speeds have had a negative impact on their business.

Furthermore, 34 per cent revealed they have experienced prolonged periods of network downtime.

Despite this, only a minority of businesses are taking action and switching to a new broadband provider.

Some 56 per cent of firms surveyed were found to have stuck with their current provider instead of switching to a different company.

Thirty-two per cent said they had opted not to switch as they wanted to prevent disruption, while 16 per cent are tied into their broadband services as they are provided as part of a building lease.

Meanwhile, 23 per cent said they are sticking with their provider as they are tied into long contracts.

One in ten business broadband customers said they would switch at the earliest opportunity, which CBNL said demonstrates an "appetite for viable alternatives".

This was reflected in the finding that 89 per cent of companies would be willing to switch to wireless.

According to CBNL, this highlights the "market opportunity for 5G fixed wireless".

Lionel Chmilewsky, Chief Executive of CBNL, commented: "It’s clear that a growing number of businesses find their connectivity requirements are growing faster than many broadband services can keep up with.

“To promote economic growth, it is essential that businesses have access to a greater range of agile broadband solutions which can scale more effectively with demand."

Mr Chmilewsky added that this trend is likely to lead to operators driving more innovation into networks over the next few years, leveraging emerging technology and developing 5G fixed wireless services.

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