Big businesses have big budgets and they can therefore more easily keep up and utilize the latest trends in technology. Small business owners may initially feel burdened by the fact that can’t keep up monetarily. That’s the great part about technology though. The advancements come fast and faster and so do the price reductions. That’s why we often talked a lot about what we feel are important trends in technology that small businesses need to pay attention to and are still affordable options that help them compete with the big guys. In an attempt to branch out from what we have previously mentioned, we found a great list of the top five recent technological advancements that will impact small business from Virtual Strategy:

1)   Google Fiber Launches in Kansas City: Introduced on July 26th, Google Fiber is the next generation of Internet connection boasting speeds of up to 1 gigabit per second (Gbps) or 1000 megabits per second (Mbps). This is 100 times faster than the average U.S. broadband speed and over three times faster than anything else available to U.S. consumers. The Fiber is so fast it is considered “future proof” as its speed is limited more by computers sending information rather than the network’s speed. (via BusinessInsider)

How this applies to you: Right now, the average Internet speed in the US (approximately 10Mbps/sec) ranks 13th in the world, which is quite dismal for the country who invented the Internet. Technology like Google Fiber not only will speed up video downloads it will make businesses, and tech companies in particular, remarkably more efficient. In Kansas City, several entrepreneurial incubators are expecting a boom in tech start-ups in the area and have already dubbed the city, “Silicon Prairie.”

2)   The Cougar Roars  

3)   U.S. Patent and Trademark Office Hopes to Boost Entrepreneurship

4)   Foursquare Introduces Local Updates

5)   A True All-in-One Website Builder Hits the Market

Click on the link below to see the full explanation behind the remaining tech trends impacting small business.