Business in NBN wait

Half of Australian businesses don't believe the national broadband network will change how they work, a survey has found, but those businesses could be in for a shock.

By InvestSMART · 17 Apr 2013

By InvestSMART ·
17 Apr 2013

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Half of Australian businesses don't believe the national broadband network will change how they work, a survey has found, but those businesses could be in for a shock.

While many companies think the national high-speed broadband network will provide new business opportunities and allow staff to work from home, only a quarter feel ready to handle the staff and organisational changes needed to capitalise on the technology.

The NBN Business Readiness survey, commissioned by communications company Macquarie Telecom and compiled by Deloitte Access Economics, has identified opportunities and threats for business.

The report also found many businesses were not aware of the changes that would be forced on them.

Macquarie Telecom group executive for telecommunications Chris Greig said businesses needed to start putting plans in place for working with the NBN.

"Around a quarter of businesses are still confused about whether they need to take action or not," Mr Greig said.

High-definition video links, new website capabilities and online customer interaction would make it easier for competing businesses to move into rival markets, Deloitte partner Ric Simes said.

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Frequently Asked Questions about this Article…

What did the NBN Business Readiness survey find about how Australian businesses expect the NBN to affect their operations?

The survey found that about half of Australian businesses don't believe the national broadband network (NBN) will change how they work, even though many see potential benefits like new business opportunities and easier work-from-home arrangements.

Who commissioned and compiled the NBN Business Readiness survey mentioned in the article?

The NBN Business Readiness survey was commissioned by Macquarie Telecom and compiled by Deloitte Access Economics.

How ready are businesses to handle staff and organisational changes driven by the NBN?

Only about a quarter of businesses feel ready to handle the staff and organisational changes needed to capitalise on the NBN's technology, according to the survey.

What did Macquarie Telecom recommend businesses do about NBN readiness?

Macquarie Telecom group executive for telecommunications Chris Greig said businesses need to start putting plans in place for working with the NBN, noting around a quarter of businesses are still confused about whether they need to take action.

What competitive threats does the NBN pose to unprepared businesses?

Deloitte partner Ric Simes warned that high-definition video links, enhanced website capabilities and improved online customer interaction enabled by the NBN could make it easier for competing businesses to move into rival markets, creating a threat for firms that are unprepared.

What opportunities does the NBN create for businesses and investors to watch?

The survey highlights opportunities such as new online services, better customer interaction and easier remote work enabled by high-speed broadband — factors investors can track when assessing a company's growth potential and digital readiness.

Why should everyday investors care about a company's NBN readiness?

Investor attention to NBN readiness matters because gaps in digital capability or organisational preparedness could affect a company's competitiveness and ability to capitalise on new markets opened up by high-speed broadband, as the survey suggests.

Which people and firms are quoted or involved in the article about NBN readiness?

The article references Macquarie Telecom and Deloitte Access Economics, and quotes Macquarie Telecom executive Chris Greig and Deloitte partner Ric Simes on the survey's findings and implications.