Why Having a Part-Time Finance Director (FD) Makes Sense!

A lack of financial experience, clarity and planning can prevent a business from growing and reaching its full potential. Accurate and timely financial information is critical when making decisions, particularly surrounding growth, capital investment, expanding into new markets, or entering into a merger and acquisition.

It’s a common problem for owner-managed businesses to discover that experienced and qualified Finance Director’s (FD) don’t come cheap, but that their know-how is an essential investment. Businesses experiencing rapid growth really do benefit from having a wise head in their team providing them with detailed financial information, advising on strategy and dealing with banks, financiers and investors on their behalf. The finance director’s role revolves more around strategy and planning rather than simply managing the accounting function.

However a £100k + salary package is often too much for a small business and, in any case, the company may not have enough work to keep a full-time FD occupied. This has led to a growing trend of hiring a finance director on a part-time basis. Typically they would work three to five days per month, and would also be on call to provide advice over the phone and email. A business gains the expertise of a Finance Director without the high price tag and sees a quick return on their investment in growth, cost efficiency and increased profitability.

Many business owners are having to juggle the FD function within their role of business owner. Often they only delve deeper into the numbers at critical times, whereas with an FD on board the numbers became available all of the time.

Sean Daniel of Clear Vision Financial Management acts as part-time Finance Director Service for a variety of businesses across the South, in a range of sectors from Construction to Media. Sean is able to bring his knowledge and expertise to these businesses, and the variety of his roles also ensure that his approach remains fresh, relevant and tailored to each and every client.