According to the 2012 AT&T Small Business Technology Poll, small businesses across the United States are embracing wireless technologies, with 96 percent of respondents using wireless devices to work while away from the office, while 63 percent believe they could not survive without wireless technology.

Smartphones are also becoming a fundamental part of the infrastructure for small business, with 85 percent of small businesses using them which is more than double the usage rate of smartphones five years ago.

"More than ever, we're seeing small businesses leverage the benefits afforded by wireless technologies, whether they be smartphones, tablets, mobile apps, or 4G speeds," said Ebrahim Keshavarz, vice president of small business product management for AT&T.

This research demonstrates that students in business degree programs need to recognize the importance of innovations in technology for small businesses and become proficient in using these devices.

Smartphones also give small businesses versatility in mobile settings, said Medill Reports.

Chicago is graced with food trucks throughout each year, and payment apps on smartphones and tablets allow these vendors to not have bulky cash registers and other payment devices on their trucks, while still accepting credit cards transactions, the source reported.