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Open Digital says 4G mobile broadband delays cost millions
The delay to the sell-off of newly freed-up spectrum could cost up to £366 million.
Once faster mobile browsing and downloads are available, employers will be able to save 37 million business hours per year, Open Digital claimed.
In the meantime, the inability to take advantage of these efficiency savings is costing companies an annual sum of £732 million.
Furthermore, it is believed the recent delay to the auction of 4G mobile spectrum, which will see the sell-off pushed back by between three and six months, is costing the national economy £183 million to £366 million.
Concerningly, the fact other countries - including Finland, Germany and the US - have already rolled out 4G mobile broadband networks means UK businesses are at a disadvantage, the organisation warned.
Telecoms watchdog Ofcom, which has been tasked with overseeing the allocation of additional spectrum, expects the first commercial 4G services to go live in 2013, although consumers are likely to have to wait until 2017 for the national rollout to be finished.
Open Digital has urged the regulator to adopt a more ambitious timetable for the 4G deployment and for the government to recognise the "massive benefit to the economy" offered by the technology.
James Firth, chief executive of Open Digital and co-author of the report, said: "Visitors to Britain will first notice London's lack of 4G mobile data when they arrive for the Olympics next year.
"In addition to the lost time through slow mobile data, UK businesses won't be able to fully benefit from new cloud-based business tools until the UK has a nationwide reliable high-speed mobile data network."
The auction has faced delays after some network operators stated their opposition to Ofcom's plans, with O2 arguing that proposals for spectrum floors would distort the bidding process.
This could allow 3 Mobile and Everything Everywhere to acquire airwaves at a discounted rate, O2 insisted.