Cooper: Businesses will benefit from CWC/ BTC deal
The head of the country’s only business brokerage firm is calling it a good thing for Bahamian businesses that greater advances in technology will come through the Cable and Wireless majority share interest in the Bahamas Telecommunications Company.
According to Simon Cooper, founder of Res Socius, the expected improvement in services could help many struggling businesses coming out of a recession.
“When Bahamian telecommunication systems fail–as they do from time to time–it is as if somebody turned off the sun,”he said in a statement sent recently toGuardian Business.”The announcement tabled in Parliament… that the new owners of BTC, Cable and Wireless Communications, are on the expansion trail, could not have come at a better time, as small-to medium-sized Bahamian businesses search for new ways to shake off the recession.
“The benefits for business include the implementation of high-speed data networks to promote more effective use of existing deep-sea fiber optic cables. This will improve connectivity across the Caribbean Sea and beyond. Local business customers will be able to call in more effectively too, thanks to the roll-out of 3G/4G and smart phone technology.”
The potential benefits of these technical upgrades for small-to medium-sized Bahamian businesses are huge, he said. Cooper asserts that more and more customer relationships are virtual, and these bonds increasingly depend on the quality of technology to succeed. As he sees it, better connectivity means a better shop window on the Internet, and”we all know that window dressing works.”
Cooper is already evaluating ways his business can benefit from the expected improvements to the network.
“As a business broker with many years business experience, I know that the best time to start a new business or buy an existing one is when markets start ticking up,”said Cooper.”The Bahamas is tracking progress made by leading western nations and the announcement of improving Bahamian telecommunications facilities is exceptionally well-timed.”
He continued,”Aspiring sellers and buyers of successful businesses will benefit from independent valuations and contractual advice such as a business broker provides.”
The signing of a share purchase agreement and shareholders agreement took place last week between the government and Cable and Wireless Communications, governing the terms of CWC’s acquisition of 51 percent of the shares of BTC.