Businesses can excel where the correct technology is in place, as evidenced by super-fast broadband being one of the main criteria for the government’s centre of innovation initiative.
Companies that invest in technology such as online backup and other forms of data management storage could be making a smart move for their future.
Businesses are becoming increasingly reliant on the internet and increased connectivity for their day-to-day operations.
The level of importance placed on how connected a firm is cannot be overstated. An example of this can be taken from the government’s criteria for becoming part of a enterprise zone centre for innovation.
Eric Pickles, secretary of state for communities and local government, explained that high-speed internet is looked upon favourably when it comes to choosing which areas receive attention.
"There are basically three elements of make-up. There is tax discount, which you will obviously understand. There is the availability of super-fast broadband, but there is also a thing called a local development order, which is a simplified planning regime," he said.
Whitehall is reportedly keen to get the new centres for innovation set up as soon as possible as it feels their predecessors were used for a slightly different purpose.
Previously, the main aim was to redistribute jobs, while this time around it is more about injecting some impetus into certain sectors.
"You can actually set something up around a specific industry to make it easier for that industry to come in," Mr Pickles claimed.
"Those are the three essential elements, but we really wanted them to be in places within an economic area that would start chugging things along outside.
"The thing that’s really pleased me about them is those who weren’t successful, we’ve done I think 21 or 22 enterprise zones, is that it is relatively easy for a local authority to set the equivalent to an enterprise zone ‘lite’."
According to the politician, councils who want to support certain industries have the powers to do so.