There is a common misconception out there that a Chief Financial Officer (CFO) is a role only available to the large corporate. However, if you continue to hold this view you could be doing your business a critical injustice. Having the commercial guidance that a CFO can provide to get your business from where you are now to where you want to be is one of the best investments a business owner can make. Nowadays the CFO offering is incredibly flexible and affordable with options ranging from a full time CFO right through to a Virtual CFO solution.
What to do
Firstly, you need to ask yourself whether your business needs the following:
- More financial expertise to help you boost performance
- More accurate financial figures
- Advice on how to get your business to the next level
- Strategic business advice and guidance
- Help to implement better financial systems and processes
- Help to manage your business’ growth and ensure you maintain healthy cash flow
- Advice and support to undertake a business critical project
Whilst your accountant may be providing sound tax advice and ensuring you are compliance-ready, most SMEs do require a more sophisticated level of advice.
It can be foreign territory engaging such services so it is a wise idea to have a better understanding of what a CFO would start to implement in your business if you decide to go down this path.....
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