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5G will act as a catalyst for the digital transformation of small and medium businesses

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Maria Gill
Maria Gill
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(Photo: 123RF)

5G will be a catalyst for the digital transformation of Canadian SMEs, as key stakeholders believe in a study conducted by the Canadian Federation of Independent Business (CFIB), in collaboration with Telus.

Since the start of the pandemic, the organization has observed that business leaders are adapting to the changes in behavior that COVID-19 has brought about in consumers by accelerating the digital transformation of their small and medium-sized businesses.

In this photo, based on the responses of more than 4,400 of its members collected at the beginning of May 2021, the CFIB notes that Canadian SMEs believe communication is essential. Almost everyone (94%) stresses the importance of having a good Wi-Fi connection at work, 79% use mobile connectivity through tablets and cell phones to do business, and 88% are convinced that this tool will be essential for their growth over the next day. Three years. This number increased to 93% among companies planning to hire employees during the same period.

Firms operating in the finance, real estate, insurance, leasing and construction sectors are the most represented among the 63% of respondents who believe they will benefit from the deployment of 5G.

For 76% of SMEs questioned, this technology allows for faster information circulation and should enable them to increase productivity and efficiency.

On the other hand, not all of them have seen any interest in their activities yet. On the question “I don’t know how 5G can benefit my business,” 43% of respondents agreed with the statement, and 12% were unsure of their answer.

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Two in five companies have reservations about this new technology. Their concerns are about the costs it will generate, the date it will be deployed, and its security.

Business leaders who live in more rural areas, and who hope to benefit from better internet access, expect 5G networks, while 66% believe this technology will be beneficial to them. For 78% of respondents away from the main centers, “this faster internet connection will improve my business productivity and efficiency,” notes CFIB.

For 54% of them, a faster internet connection will allow them to innovate, and we can read in the report titled The view of Canadian SMEs on 5G.

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