5G is here, and it seeks to supercharge your internet speeds. On October 1, 2018, Verizon launched its 5G ultra wideband network ahead of many of its competitors leading the charge for incredible speeds and downloads times. 5G is rumored to launch fully in 2020, getting its start in the US, South Korea, and China. Here’s what the launch of 5G will mean for your small business.
First, what is 5G?
5G s the 5th Generation of cellular networking. Just as every new release and generation of cellular networking has changed the way we interact with the internet and our phones, 5G will do just that.
‘“5G” is an agreed upon set of standards defined by the International Telecommunication Union (the ITU) and the 3GPP, who work together with hardware companies and carriers to define what exactly a 5G network actually is.’
Verizon’s 5G Launch
Verizon has been working on their launch for quite some time, continually pushing their partners and others in the field to do more, faster. Currently, Verizon is spearheading the 5G network world with its 5G Technology Forum and 5G Labs, working together with other companies and developers to bring the 5G Network to fruition. Rather than wait on the competition or sideliners to bring what they have to the table, Verizon has decided to bring about the launch of 5G Home to get the ball rolling for the 5G world. There is no doubt, however, that we will soon see 5G networks from many other providers, all with various add-ons.
In early-mid September, 5G Home was available for ordering ahead of the official launch date. Initial users were part of an offer called the “First on 5G” members, who received three months of 5G Home Service for free. Following the introductory period, Verizon customers could add the service to their plan for only $50 a month. Those customers interested in the network who were not Verizon customers could get the service for $70 a month.
What does 5G mean for Small Business?
With the rate of solopreneurs and digital nomads growing, many small businesses are beginning in homes. Entrepreneurs often don’t have the seed money to open a storefront right off the bat, so many begin in their home. With a 5G home network, the speed and efficiency at which you can conduct your business will increase dramatically. You will be able to manage your business with the comfort and reassurance of a reliable network.
For more traditional brick and mortar small businesses, transiting to a 5G networking isn’t just a simple upgrade. 5G will bring about crazy fast speeds– some estimates claim up to 10 gigabits per second on a given device. With 5G, companies can now customize networks based on the devices they’re using and their individual needs. Lag times will almost cease to exist, and customization will become king. Small businesses will soon become inundated with offers from startups and large providers with tales of how 5G will change the game– and it just may.
The Future of 5G
Verizon is currently setting the pace for the rest of the 5G world. Planning to launch a series of other 5G services, Verizon has made it known that a 5G mobility plan is in the works. Verizon has already made leaps and bounds into the 5G world including making the first 5G video call, the first 5G data transfer, and even the first Hologram call. (What!?)
There is no doubt that other companies are working on similar projects sure to be just as promising. AT&T has hinted at a launch later in the year of their own 5G network, and are even working on improving their 4G network as a stepping stone to 5G. There is soon to be a technological 5G arms race amongst competing companies, with the promise of competing offers, incentives, and specialized features across the board.
With the bar set high and the race started, it will be only a matter of time before the next 5G possibilities are launched and reaching into the stratosphere for success. This all is great news for the small business world. Having these technological advantages and advances at your fingertips will only prove most efficient and promising for your small business. Take full advantage of any 5G services that you can, as a small business that is up to date in a technological world will be able to grow rapidly and successfully.