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Leveraging 5G network for digital innovation in small and medium enterprises: a conceptual review

Author

Listed:
  • Maxwell Olokundun

    (Covenant University)

  • Mercy Ejovwokeoghene Ogbari

    (Covenant University)

  • Hezekiah Falola

    (Covenant University)

  • Ayodotun Stephen Ibidunni

    (Covenant University)

Abstract

Small- and medium-sized enterprises (SMEs) play a crucial role within a country’s economy considering that they provide a source of skills and innovation for entrepreneurship and their capacity for introducing, integrating and disseminating new technologies is incomparable. However, the world may be looking at an impending devastating recession delivered by the coronavirus pandemic. As governments intensify restrictions on business to halt the spread of the pandemic, the fear of the virus also reconfigures the very concept of business and the workplace. Therefore, there is a need for a greater focus on digital transformation considering that physical distancing requirements to curb the spread of this virus may become a cultural orientation for businesses and the workplace. A real digital transition is anticipated for small businesses with the 5G network technology. 5G network will not just be a technological connection but will affect different socio-economic sectors and will stimulate innovation in small companies. The goal of this paper was to carry out a literature review on the potential ways small businesses can leverage on 5G network for digital innovation. The paper proposed that small and medium businesses can leverage the 5G Mobile Technology through enhanced interpersonal communication, expanded remote work opportunities, innovative digital tools and supply chain efficiency. Finally, while many individuals and small business owners will profit from 5G technology some will work to undermine it. As a result, companies must keep this in mind when implementing 5G, or other new technology, and adjust their security protocols accordingly to remain secure.

Suggested Citation

  • Maxwell Olokundun & Mercy Ejovwokeoghene Ogbari & Hezekiah Falola & Ayodotun Stephen Ibidunni, 2022. "Leveraging 5G network for digital innovation in small and medium enterprises: a conceptual review," Journal of Innovation and Entrepreneurship, Springer, vol. 11(1), pages 1-10, December.
    • Handle: RePEc:spr:joiaen:v:11:y:2022:i:1:d:10.1186_s13731-021-00181-5
    DOI: 10.1186/s13731-021-00181-5
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    References listed on IDEAS

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