At what point do I need a Finance Director? What’s the tipping point of turnover when I need someone a bit more senior in finance? People are telling me I need an FD but what do those people really do? Aren’t they ridiculously expensive?
There’s no right or wrong answer to any of these questions but as your business grows you will need to think about having someone responsible for the finances, same as you do for sales, operations, marketing and so on. There are options here; you don’t have to go straight for a full-time Finance Director with all the bells and whistles. In fact it’s probably best if you don’t as there may not be enough for them to do just yet.
It’s a little-known fact that our business was originally founded in 1987 to provide part-time Finance Director services for smaller businesses like yours that needed some senior finance input but not on a full-time basis yet. We’ve been doing this for a long time and so we know which FDs would be good for you, and which ones not so much. We have a network of Associates who we can introduce to you. Many of whom will have worked in your sector and/or a business very similar to yours, and so they can quickly tell you what has worked well and what hasn’t.
The engagement with an FD can be as flexible as you need it to be, starting from 1 day/month.
Contact any of our specialist consultants below to find out more.