At what point should a business be engaging in the services of a Finance Director? With over 5.9million small to medium sized enterprise (SME) businesses (less than 250 employees) in the UK, there will always be many different points of view out there.
Indeed, the challenges of a pandemic may be placing pressure on many businesses to hold back on spending and investing right now. However, a business cannot survive on a good level of sales and marketing alone……poor management of cash and lack of clarity over financial performance can very quickly lead a business to bigger problems caused by blind decision making.
A business may already be using the services of a bookkeeper to keep on top of the day to day finances and by using the latest available digital accounting software, the task of “maintaining the books” is becoming increasingly automated at the press of a few buttons.
A part time or interim Finance Director can help to make sense of the numbers and the opportunities they provide in simple language at an affordable cost compared to full time employment. Experience of just knowing how to use one of the latest digital accounting platforms and the vast array of compatible apps should not be the sole reason for choosing a particular Finance Director to work with. Instead, previous industry sector experience as well as how long they have previously worked as a strategic business partner should also play an important part.
With a passion for helping SMEs to grow and the experience of working in a variety of e-commerce, retail and distribution businesses within the fast moving consumer goods sector in particular, I decided to set up Fluid FD Limited to offer my experience and support on a part time or interim basis. For a free initial chat about how I may be able to assist you in your business, email me directly at paul@fluidfd.com.