Virgin Media Business has announced that it plans to launch broadband speeds up to 300Mbps early next year.

The company, which has 36,000 mainly SME customers, offers a current top speed of 152Mbps.

VMB claimed the launch would provide speeds that were “almost four times” faster than its competitors.

The announcement comes nine months after parent company Virgin Media revealed plans to extend its network by four million UK premises in the next five years.

The £3 billion (€4 billion) investment, codenamed Project Lightning, expands Virgin’s Hybrid Fibre/Coax (HFC) infrastructure to approximately 17 million UK premises.

According to an October report from Oxford Economics and VMB, UK companies expect to add over one million new jobs over the next two years as a direct result of investing in digital tech.

Last week, VMB launched a free small business broadband installation scheme following the closure of the UK government’s Super Connected Cities (SCC) voucher programme.

Peter Kelly, Managing Director of Virgin Media Business, said: “Every day businesses tell us that faster broadband speeds increase productivity and help deliver better services for customers.

“At Virgin Media Business we’re focused on enabling businesses to reach their potential by delivering better services and greater capacity.

“Our 300Mbps service will set a new benchmark for business broadband in the UK.”

Last month, Virgin Media CEO Tom Mockridge said his company would turn its attention away from price to focus on the performance of its offerings.

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