Mobile coverage in the UK has expanded rapidly in recent years as a result of government plans and investment from the private sector, but research from British carrier Vodafone shows that British businesses are investing in reliable products. It warns that it risks being overtaken by its European rivals. This is the biggest threat to small and medium-sized enterprises (SMEs), who could miss out on up to £8.6 billion a year in productivity savings due to the slow rollout of standalone 5G.
of Revitalization of small and medium-sized enterprises This study highlights how accelerating new 5G standalone deployments can improve productivity for small and medium-sized businesses. It modeled the competitiveness of 17 European countries in terms of small business growth using his three metrics: 5G coverage, adoption of 5G-enabled technology by small and medium-sized enterprises, and 5G speeds.
Building on its findings, Vodafone pointed out that there are currently 5.6 million small and medium-sized enterprises operating, accounting for 99.9% of the UK’s private sector business. The company describes small and medium-sized businesses as pillars of local communities and the overall economy, critical to fostering job creation, fostering innovation, developing local economic activity, fostering entrepreneurship and diversity, and generating significant profits. He said he considers it to play an important role. Contribution to the UK’s Gross Domestic Product (GDP).
While Vodafone highlights that the UK continues to be one of the best countries to start and expand a new business, the research also found that other countries such as Sweden, the Netherlands, Finland and Denmark have access to reliable, ultra-fast 5G. It turns out we’re rapidly investing in connectivity. Faster speed.
The UK is now on track to become the fifth most attractive place in Europe for small and medium-sized businesses to grow with technology, after Denmark, Finland, Sweden and the Netherlands. However, if Vodafone can accelerate the rollout of its 5G standalone (5G SA) network, it could overtake all rivals and rise to second place behind Denmark. According to carriers, this could result in huge financial savings for small and medium-sized businesses.
Vodafone says a potential use case is that by leveraging 5G SA-enabled technology such as soil, weather and equipment monitors, small agricultural businesses could save the average farm worker more than three weeks of work time. suggested. Identify and prioritize issues in real time. Rapidly deploying 5G SA and accelerating the development of the enabling technology could save the sector over 37.7 million man-hours per year. This will save £112 million a year in productivity, allowing small and medium-sized businesses to reinvest and boost business growth.
Similarly, more than 2 million employees in the retail sector could save more than 45.3 million labor hours annually by implementing 5G SA-enabled technologies such as Internet of Things inventory maintenance systems. These enable inventory and out-of-stock monitoring, avoiding tedious manual checks and freeing up time for employees to complete other important tasks. Such technology could contribute to productivity savings of £1.85 billion a year.
In a call to action, the report warned that while the quality of digital infrastructure remains a competitive advantage in the global economy, opportunities for action are limited. As Britain has historically been a world leader, it concluded that it was essential that it kept pace with its European rivals at such critical junctures.
“UK SMEs are already some of the most advanced in Europe at integrating digital tools into their businesses, and without adequate access to best-in-class connectivity such as 5G standalone, “We don’t want people to be left behind,” he said. Vodafone Business UK CEO Nick Gliddon. “That is why we are excited about the new opportunities our merger with Three UK will create in this important sector of the UK economy. of small and medium-sized businesses will be able to leverage cutting-edge 5G-enabled technologies such as AI and IoT to drive efficiency, productivity, and most importantly, growth.”
Emma Jones, CEO of small business support organization Enterprise Nation, said: “The UK is seizing the opportunity to improve its 5G network and provide a first-class solution for small and medium-sized businesses to grow and scale up. It is essential to create an environment.” Strengthening our digital infrastructure will provide important competitive advantages and productivity savings for small and medium-sized businesses, ensuring the UK remains ahead of regional competition. ”
Tina McKenzie, Federation of Small Businesses (FSB) Policy and Advocacy Chair, said: “Strong and reliable mobile connectivity is essential for small businesses to thrive and grow. However, unreliable mobile connectivity remains a major obstacle for small businesses and the self-employed, especially in rural areas. We often hear about the destructive effects it has on sexuality.
“As technology evolves, the need for proper connectivity becomes even more important. Deploying 5G standalone quickly and efficiently to all regions of the country will help small and medium-sized businesses stay at the forefront of technological innovation. , will not only improve work rates but also ensure that the UK remains a great place to start and run a business.
“Certainly, in some rural areas where fixed broadband is sometimes nearly impossible and where access is difficult, where physical infrastructure encroaches on some of our most beloved and protected landscapes, 4G is 5G needs to be prioritized,” she said. . “Today’s technology as well as the future requires 5G support. This is a key enabler of productivity.”
