Haven’t heard of MVNOs? The Cheaper Way to Get Mobile Plans. These data and voice communications alternatives could save your small business thousands of dollars a year.
Many small-business owners are unhappy with their mobile and traditional communications providers. Most plans offer a limited amount of data and minutes per month, which can lead to hundreds or even thousands of dollars in additional fees for going over the limits. Most companies also require a two-year commitment to a specific plan with stiff penalties if you decide to break the contract, even if you do so for poor service or another justifiable reason.
If you want to avoid being in this situation, consider using a Mobile Virtual Network Operator, or MVNO. These companies sell communications services in plans that are far more compelling to small-business owners. Their pricing and terms are very competitive because they haven’t spent billions of dollars building out a physical communications network; instead, they lease access to existing networks. MVNOs typically offer unlimited data and communications—including 4G service—for a flat month price. They also don’t require a contract, and are priced month-to-month. Some require that you purchase devices from them at unsubsidized prices, while others let you use your existing phones if they’re compatible. Even after taking into account the cost of purchasing phones, the savings can be significant.
About small business finance expert Mike Periu
Mike Periu has experience in small business finance. He founded Proximo, LLC a company that offers consumer and small business training services focused on technology and money.
Mike Periu teaches individual empowerment through entrepreneurship and financial literacy. He has appeared 500+ times on television and radio. Visit the Reach and Media pages of his website to learn more about where he has appeared.
You can read more of Mike’s articles on his blog or at American Express OpenForum, Yahoo! Finanzas and the Huffington Post.
Mike has a degree in International Business and Finance which he received at Georgetown University in Washington, DC. He received a Fellowship from the Kauffman Foundation for the Labs for Enterprise Creation program in Kansas City.