Many small businesses don’t realise the impact a Financial Director has on the financial health of their business. A Financial Director is not just a body to handle the accounting area of the company – more focus is brought by them on strategy and planning to build your organisation.
Many SMEs and entrepreneurial businesses begin without appropriate management experience and know-how. With them finally achieving a point where they know they need to take action, many feel that employing a full-time Financial Director is cost-prohibitive – especially with a level of expertise that they require for their main strategic issues.
The Focus of an FD
A Financial Director works on areas that raise the profile of an SME to a level where they can compete against the bigger competitors in the financial sector. These hires are essential for expansion into new markets, mergers and acquisitions, and dealing with banks in areas of funding.
These are areas that an everyday business owner would dedicate weeks, months, or years trying to get their head around – and that is before they factor in stock market flotations, systems implementations, or those instances where the time has come to prepare a business for sale.
Preparing for a business exit is one of those occasions where a Financial Director is essential, but an owner would not have adequate resources to hire one on a full-time basis.
Many entrepreneurial businesses have taken smaller steps in hiring a Financial Director, by taking on a part-time FD (or PTFD). That has become a cost-effective solution and provided a suitably qualified hire with appropriate experience.
The appeal may come down to a fraction of the cost. The real benefit comes from the experience most of these individuals have gained within blue chip companies or SMEs, as well as being extensively vetted to ensure their professional attitude matches your business’s structure and requirements.
In the case of a business exit, a PTFD ensures that the company takes every necessary action to maximise the sale value and runs safely and properly whilst the business owner focuses on the sale process.
Whether you are ready to grow your business to another level of maturity, or even if you are to undergo a successful sale of your company or brand, a Financial Director in place ensures that efficiency is key in every step of the process.
Imperium helps business owners secure the talents of only the most experienced personnel in the financial sector, whether you require a full or part-time basis.
Speak to our team at Imperium today to make your next hire the real difference maker for your business.