What is a fractional CFO?
A Fractional CFO is a part-time CFO for small companies. It is a cost-effective way for small businesses to utilize the services of a Strategic professional financial professional, without the commitment, or costs of a full-time hire. Thanks to cloud-based bookkeeping, fractional CFOs have recently become accessible to even the smallest companies. Access to that data allows the CFO to do their job effectively.
Why would I hire fractional CFO Services?
There are many reasons a small business would benefit from strategic professional. These include:
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- You do not spend time each month carefully reviewing the prior month’s results.
- You do not engage in a formal Forecasting, Planning, or Budgeting process.
- You are having cashflow issues.
- You do not have a business transition plan.
- You are investigating entering a new market or pursing vertical integration.
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- You are considering bringing on equity partners.
- Growth is limited by cash tied up in inventory or receivables.
- You want to get new debt or refinance old debt.
- You are thinking about merging or acquiring another business.
- You spend all your time working in your business, and no time working on your business.
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What fractional CFO services do small businesses need?
Fractional CFOs perform all the same functions as a full time CFO. These include:
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- Monthly review and analysis of financial statements.
- Forecasting cash, revenue, expenses and profit.
- Annual budgeting.
- Monthly budget vs. actual analysis.
- Strategizing with management and providing financial expertise.
- Negotiating debt arrangements.
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- Creating a business transition plan in order to maximize your return on your business.
- Managing Insurance requirements.
- Maintaining relationships with banks, lenders, insurance brokers, and investors.
- Analyzing customer acquisition costs and lifetime values.
- Working with CPAs on annual tax filings.
- Performing due diligence and valuation on business acquisitions.
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READY TO SPEAK TO A FRACTIONAL CFO?
Contact us to see how your business can benefit from our CFO Services.
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