Computerisation is no longer a tool to gain a competitive edge, it is a necessity to stay in the business race, entrepreneurs who attended a Bermuda Small Business Development Corporation (BSBDC) workshop were told yesterday.

"At one time computerisation gave you an advantage, now, it you don't computerise you're at a disadvantage,'' BSBDC chairman Craig Christensen said.

He also said that computerisation costs are decreasing for small businesses while reliability is increasing.

One of the first moves a small business can take is finding a computer accounting package, and a consultant, that fits their needs, Wilson & Associates owner Lois Wilson and Irving Minors of Irving Minors & Associates said.

They outlined generic computer accounting packages, like B.Y.O.B. (Be Your Own Boss), Peachtree Accounting and Quickbooks.

These packages, costing from $160 to $225, cater to the small business. A consultant to help you decide which is right for you and or how to run it and use it to your advantage can cost $60 to $100 a hour. Depending on the size of your company, some consultants offer a flate per day rate.

If the entrepreneur needs something customised, for example for tracking inventory, that can be set up as well.

The small business owner should be looking for a package that provides monthly balance sheets and income statements, receivables and payables, a budget facility that can be compared to actual spending and revenue, automatic posting to the business' general ledger, invoice and statement printer as well as a cheque printing facility for wages and payables, Mrs. Wilson said.

"Some companies with over $5 million in turnover are on some of these smaller accounting packages,'' she said.

Businesses can also use the technology for word processing and correspondence.

The accounting packages allow a small business to get to a real financial statement, Mr. Minors said.

But he added that that information is "useless if it isn't used'' to help the owner make prudent business decisions.

BSBDC general manager Michelle Khaldun said putting these basic functions on computer has kep some local businesses afloat.

The packages have also increased employee productivity and can help thwart pilfering, she said.

The BSBDC was set up in the early 1980s under the Bermuda Small Business Development Corporation Act with Government and the Islands three banks providing a total of $680,000 in funding.

As well as guaranteeing bank loans, the BSBDC provides advice to small businesses.

"We want to see small business become more profitable,'' Ms Khaldun said.

There is currently a trend toward existing small businesses utilising the BSBDC for information as opposed to new entrepreneurs emerging looking for financial assistance, Mr. Christensen, also a chartered accountant with Arthur Morris, Christensen & Co., said.

BUSINESS BUC