VIRTUAL CFO
In addition to the services listed above, we also offer Virtual CFO solutions. This is a relatively new concept and is a way for small businesses to get CFO support that they wouldn’t have been able to afford previously. Small businesses that hire a Virtual CFO get access to an experienced financial professional at a fraction of the cost of a full-time CFO.
Many small businesses fail within the first three years. Reasons include cashflow challenges or surprises (e.g. unexpected tax payments), failure to set themselves apart from the competition, and an inability to find a profitable business model. With an accounting professional acting as their Virtual CFO, they could keep their financial goals and realities clearly in sight.
A Virtual CFO is an affordable alternative to hiring a full-time CFO and can make a big difference to a small business, by
- Creating budgets and forecasts;
- Ensuring financial records are maintained accurately and timeously;
- Ensuring business owners have a firm understanding of their financial position;
- Assisting with cashflow management;
- Ensuring regulatory and tax compliance;
- Pinpointing problem spending;
- Validating or discouraging business decisions with financial well-being in mind.
