Please upgrade your browser to use Internet Explorer 9 or above. Internet Explorer 8 is no longer supported.
5G Network
How Businesses Will Benefit

How 5G Network Will Benefit SMEs

June 1, 2017

4G, 3G and other lower internet networks are what are available for mobile phone users today in any part of the world. But many mobile phone enthusiasts are looking forward to 5G network, even if they are not certain how the network will benefit them, or even what it entails. In short: 5G network is simply a higher form of internet connectivity with more enhanced features. Given the enhancements that the 4G internet network is delivering to users, it is expected that upon roll out, 5G network will provide greater enhancements to users.

The roll out, according to AT&T, will happen in 2020; Verizon on the other hand is optimistic that it be launched in 2018. Though nobody is sure when the anticipated 5G network will eventually be launched, everybody knows that its release will give users more benefits than the current 4G network. Besides individuals, the anticipated 5G network is also expected to bring stunning benefits to small and medium enterprises (SMEs). Below are various ways 5G is expected to benefit SMEs.

Benefits of 5G Network for SMEs

5g network

Utilizing 5G features and tapping into the various opportunities of the 5G network is expected to allow SMEs to offer more affordable services.

Easier and More Affordable Service

5G network is expected to come with more advanced features that will help small and medium enterprises to improve on existing services with relative ease. Utilizing these features and tapping into the various opportunities that 5G network will bring, will also allow SMEs to offer more affordable services. However, to be able to reap this benefit, these businesses are also expected to modify their current business models, as well as their cost models, to match with the changes 5G network will bring about.

Better Customer Experience, More Workers’ Output and Higher Product Quality

Based on the recent Forbes Insight Survey titled The Mobile Industrial Revolution, over 80 percent of the participants in the survey were optimistic that 5G technologies would have positive effects on businesses in many ways. Most of those surveyed singled out better customer experience, higher output from the workers and better product quality as areas that will see improvement. These areas are of crucial importance to any business. Better customer experience and higher product quality normally give rise to an enhanced reputation of a business among consumers. If a business achieves a higher reputation in the industry, it is more likely to make more sales.

5G technologies are able to help workers become more productive, because they will deliver better user services like augmented reality, which provides support to applications relying on ultra-high data rates.

Mobility and Flexibility

5G provides enhanced mobility and flexibility. With such a network, employees will be able to work from any location, including their homes, and still keep up with productivity levels. This is something that will benefit not just small and medium business, but also larger companies. Being able to work in any location, or from home, can enhance the performance of a business. This is because working from home will help to bring down the number of unpaid holidays, as well as the number of sick days.

When workers enjoy flexibility from their employers, they tend to pay back with loyalty. It will also make them to work to the best of their ability and remain with the company for years to come.

Enhanced Internet Experience

5G technology will enhance the internet experience of SMEs in a number of ways. Connected devices, including cars, will require 5G network to deliver enhanced services to their users. This will also benefit SMEs. With better internet services, SMEs as well as startups can watch over their vehicles and equipment in real time. The management of any business can easily and quickly make decisions. It will be easy for them to get analytical data, as the monitoring systems in place are very effective. They require these data to make important decisions that will have positive impact on their businesses.

Higher Speed Connection

5G network will deliver faster connection than the current 4G network. SMEs can take advantage of the faster connection in a number of ways. For example, employers can organize video interviews with candidates. Though this can be done with a 4G network, 5G network will deliver a better quality video interview, thanks to its faster connection. Data transfer will easily and quickly be accomplished as well. With its higher speed connection, it will be easy for businesses to send offers as well as advertisements to their potential customers, regardless of where they are.

Besides the above benefits, 5G network is expected to come with other features that will benefit not just SMEs, but users of 5G-enabled devices. Here are some of those features:

  • 5G devices are expected to have longer battery life and consume less energy. Only a fraction of energy used by 4G networks will be consumed by 5G thanks to its spectral efficiency.
  • 5G network will have high data rates as well as low latency requirements so that it can provide the required support to 3D gaming, AR/VR and other applications.
  • With the 5G network, it will be possible for users to switch their session from one device to another.

Indeed, it will be difficult for any person to give all the benefits SMEs will derive from 5G network when it is eventually rolled out. Instead, SMEs will discover greater benefits by tapping into the numerous opportunities it will provide upon its highly-anticipated release.

About TCI Business Capital

TCI Business Capital is an invoice factoring company serving businesses across the United States. For more information on factoring, call (800) 707-4845 for a free, no-obligation consultation and quote.

Sources:

1. Arrow, How Will 5G Benefit SMEs. 13 February 2008.https://www.arrowcommunications.co.uk/newsroom/trends/how-will-5g-benefit-smes/. Retrieved 28 February 2017.

2. Telecom Engine, Looking ahead Towards the Anticipated Benefits of 5G. 18 November 2015. http://www.telecomengine.com/article/looking-ahead-towards-anticipated-benefits-5g. Retrieved 28 February 2017.

3. Sean Keach, What Is 5G? 5G vs 4G and the Future of UK Mobile Networks. 24 February 2017. http://www.trustedreviews.com/opinions/what-is-5g-a-rough-guide-to-the-next-generation-of-mobile-networks. Retrieved 28 February 2017.

4. Sofia Sarapova. Benefits of 5G Technology fpr Businesses. 7 December 2012. https://prezi.com/jgu7clpg5jay/benefits-of-5g-technology-for-businesses/?webgl=0. Retrieved 28 February 2017.

 
Call Now Button