Small and medium-sized business owners who want to maximise their enterprises have an opportunity to obtain key advice from a chartered professional accountant, through the Bermuda Economic Development Corporation.

Kent Bascome, of ClearPath Advisory, is hosting a practical, one-hour session designed specifically for small and medium-sized business owners.

Own a Machine, Not a Job is an hourlong lunchtime training to help take business people from “owning a stressful job to owning a moneymaking machine”.

The BEDC statement said: “With over 35 years of experience as a chartered professional accountant, Kent brings proven strategies and practical insights that will help you create a stronger, more sustainable business model.”

It adds: “If you have ever felt stuck working in your business rather than on it, this session promises the tools to shift that, and build something that generates real profit and lasting value.”

This session is ideal for growth-oriented business owners who are committed to long-term success and want to improve profitability, cashflow and efficiency in their operations.

They will learn why many businesses fail and how to avoid the same pitfalls. Understand the key difference between a business that works for you and a job you simply own.

Mr Bascome said: “Within five years, most [new] businesses fail because by that time you get found out if you’re not doing what you were supposed to have been doing from Day 1.

“Cash is king. We always say you must be able to manage your cash and cashflow. Most businesses fail because they run out of cash. That’s a basic statistic across the board — not just in Bermuda.”

Those attending will appreciate the three main sources of money for every business and how to take back control of time and finances, together with the 16 drivers that directly impact revenue, profit, and cashflow.

• Own a Machine, Not a Jobwill be held at12.30pm on June 18 at the BEDC Training Room, Church Street, Hamilton