How a Part-Time FD Could Transform your Business

Why would you need an FD?

It is inevitable that as a business grows the finance burden increases. It is therefore likely that an increasing amount of the owner’s time is taken up with financial matters. This is not what you envisaged when you started the business and unlikely to be what you want to do or indeed what you do best.

Without efficient and effective finance management which takes care of forward planning AND the everyday routine it is unavoidable that you, the business owner, will need to get involved.

What does an FD do?

The main objective of a part-time FD is to free up busy Owners/MD’s by taking away the problems of finance management, whether that means managing staff or not, in an organised way, and putting in place an organisation structure for the company. This will be a solid foundation for now and future. The FD should also be a trusted sounding board and go to man for the owner/MD.

An FD will ensure that the processes put in place help the business have clear direction. As every function within a company has a financial impact, it is essential that these processes are communicated to everyone in the organisation, to enable all the different functions to be aware of the impact their contributions have.

The best Finance Directors spend more than half their time looking at the future of your business not it’s past. They’ll have a collaborative approach and will work closely with you and the rest of your team, and know your business inside out. They’ll have the confidence to challenge and influence you robustly but tactfully. Above all, they’ll add tangible value to your business and help propel it to the next stage of growth!