Explore the future of small business in Australia.

New technologies across the country are helping small and medium-sized businesses (SMBs) to become technologically sophisticated, cost effective, efficient and competitive.

According to tech experts at SXSW, a global festival celebrating the convergence of entertainment, art, industry and global culture, it has been predicted that VR will be ‘the new smartphone’ and VR for SMBs will be vital by the year 2020.

Understanding what is being forecast for 2020 not only provides valuable insights for SMBs, but also shows how businesses can thrive and compete in their relevant industries and the rest of the world.

New technology, such as VR, in conjunction with the rollout of the nbn™ network will empower consumers to experience brands and shop from the comfort of their own home like never before.

There is expected to be a shift away from your traditional brick-and-mortar business model, and the emergence of virtual stores that will talk directly to the consumer, empowering them to experience something personal, customised and immersive.

Fast broadband is predicted to change the face of SMBs by 2020, and thanks to VR, we can take SMBs along for the ride to show what retail businesses that use services over the nbn™ network could look like in the future.

This VR video tour of the retail shop showcases a constantly developing world where retailers are running out of room to show their stock.

Through VR, retailers can essentially store more with less associated costs, display products which have not yet been released to market, and deliver more fulfilling customer experiences.

For SMBs, connecting to services over the nbn™ network could help them stay up-to-date with ever-evolving technology.

People could soon have the world’s brands at their fingertips through a VR headset and it’s up to businesses to integrate new technology to stay competitive.

For more information, visit our Broadband for Business homepage.

Watch the VR tour to experience what SMBs could look like in the year 2020.

Check your address to see if your home or business can connect to the nbn™ network.