JOIN OUR COMMUNITY
for THE LATEST UPDATES
Join our newsletter to be the first to know about the latest news and resources.
Why You’ll Benefit from Hiring a Fractional CFO
Running a start-up company is often challenging, and this goes beyond generating revenue from products and services. While it can get overwhelming to manage several employees and even various clients, many forget that they need to consider their cash planning and tax strategies each year. Getting lost in the financial side of things can make things much more challenging, where small business accounting comes into play.
Tech startups are exceptionally talented at the modern-day trends of technologies and innovating new devices and software. The modern start-up company is a force to be reckoned with, and it is expected to grow increasingly over the next coming years. However, it pays to know that bookkeeping and financial management are still going to be met with difficulties, as these aren’t skills taught just anywhere. These lapses are where a business accountant will help any start-up company get their feet off the ground.
Hiring a Business Accountant to Act as a CFO
A Chief Financial Officer (CFO) is an integral part of the business sphere, as they manage most finances and practically view the world through the numbers game. They are well-versed in tax strategies, bookkeeping, budgeting, and other financial matters. However, many start-up companies might not have the budget to have a full-time CFO available on deck to run the operations, where small business accounting firms can help.
In terms of outsourcing financial matters, you call these professionals fractional CFOs, who are experienced individuals that help with contractual finance work. They can assist with multiple needs, such as cash planning, bookkeeping, tax structuring, budgeting, and even drafting business plans. If your company is having difficulties raising capital, implementing newer accounting software and systems, or even running an audit, a fractional CFO can be a big help.
schedule a free consultation now!
It’s time to take your business to a whole new level!
What are the Benefits of Hiring a Fractional CFO?
While you’re not paying the full salary of a CFO and are paying for a package for their services list, you save more money and stress when it comes to running payroll. You basically get the full range of services and benefits you need from a full-time CFO with the selections you need for the times at hand. If you’re looking to optimize your cash flow for payroll or find the budgets for investing in research and development, these professionals can help.
CFOs are essential members of the entire management team, as all things in business boil down to money in the end. A company’s success depends on how profitable its products or services are and if they are making more money than spending. All kinds of lapses in judgment and blind spots are visible to a small business accountant when they run financial audits to optimize everything.
Fractional CFOs are also well-versed in dealing with various clients, which allows them to view your situation with a unique lens. Since they have no attachment or bias towards your company, they can make more educated recommendations than a CFO employed full-time. If you permit them to make suggestions, they will tell you what they believe needs to be done for better growth. Sometimes, businesses need to see the bigger picture, and only an external entity can show this most of the time.
Conclusion
It can be challenging to deal with financial decisions and running bookkeeping all while being a proprietor or a CEO all by yourself. Hiring a fractional CFO can help give your business the direction it needs to push forward with better growth and increased education on future trends. With a professional’s help, your business will be less likely to fall short.
In FiBrick, we would love to support your business’ financial success. Let’s schedule a call to talk about your accounting, bookkeeping, and tax questions.
JOIN OUR COMMUNITY
- 1 (646) 242-3326
- Info@Fibrick.com
- 349 5th Avenue, Suite 816, New York, NY 10016
