TECHNOLOGY and digital marketing company Next Step Digital Solutions (NSDS) has embarked on its regional expansion by establishing a partnership with Guyanese social media marketing firm Precision Media. The move aligns with NSDS’s broader regional strategy to increase its presence across the Caribbean.

Mohan Beckford, chief visionary officer at NSDS, in expressing his excitement to the Jamaica Observer about the move, underscored the significance of fostering collaboration among regional technology companies.

“Our competitiveness within the global marketplace depends on our ability to collaborate as a region to stimulate our economic development,” Beckford said.

Guyana, currently boasting the title of the world’s fastest-growing economy, has experienced an impressive surge in its GDP, primarily attributed to its burgeoning oil wealth. According to data from the International Monetary Fund (IMF), the country’s economy expanded by a remarkable 62 per cent in 2022, with an additional 38 per cent growth anticipated for this year. The country’s thriving economic landscape is seen as a prime destination for investors and Beckford believes it has promising opportunities in digital expansion as well.

“With their [Guyana’s] digitisation plans and our digital transformation experience, we believe Precision Media would be a good fit to amalgamate the services and bolster their offering within the Guyana market,” Beckford told the Caribbean Business Report.

Guyana marks the first Caribbean country that NSDS has entered. NSDS specialises in digital marketing, application development, and website development but plans to also offer training specifically in digital marketing to further strengthen the digital capabilities of businesses in Guyana. In the short term, both companies are aiming to establish themselves as the first choice for small and medium-sized enterprises (SMEs) in Guyana seeking digital transformation solutions.

“We want to be on the front run in providing those services and setting up ourselves as the go -to company where digital transformation is concerned,” Beckford said.

The long-term perspective, however, involves forging a strong and enduring relationship, with the possibility of going public on the horizon. Precision Media Chief Executive Officer Althea Hoodith echoed Beckford’s enthusiasm for regional collaboration and the potential boost to Guyana’s digital economy.

“This partnership has the potential to significantly boost Guyana’s digital economy, offering valuable opportunities for employment, skill development, and business advancement within the country,” she noted.

Beckford emphasised that this philosophy of driving digital transformation underpins NSDS’s expansion strategy, which extends to other territories beyond Guyana. Currently operating in Canada, Jamaica, and Guyana, NSDS is considering additional countries for future expansion. But for now, Beckford believes that Guyana provides a solid starting point for this journey, offering the momentum to continue spreading its wings into new markets.

“I wanted to serve as a way of demonstrating [to other digital companies] that it’s possible. As a way to say the world is your playground, and you can do that in many different ways. You don’t need to physically be there,” Beckford said encouragingly.