More than one-third (31%) of the 152 UK businesses surveyed said they would need speeds of 100Mbps to run core business computing, including SAP, CRM and ERP systems and e-commerce applications.
Just over 40% said they were unable to receive the speeds they required because they were in locations with poor access to broadband.
Some 73% said a minimum speed of 2Mbps should be available to all businesses across the UK to run essential applications and to connect branch offices.
The Communications Management Association, which represents network managers and is part of the BCS, warned last year that there was a limited window of opportunity over the next 12-24 months for the government to develop and implement a roadmap for next-generation broadband.
"Now, 14 months on, there is little sign of either a concerted or innovative approach to regulation and policy-making, which the government acknowledged as recently as last September as being necessary," said David Harrington, CMA's director of regulatory affairs.
"The gap between government rhetoric and formulation of policy appears to be as wide as ever."
The report is the second to suggest UK competitiveness could be damaged by lack of fast broadband. The first, published by the Broadband Stakeholder Group in June, argued that denying business access to fast broadband could impact on the UK's gross domestic product.