If you’re tearing your hair out trying to keep up to date with day-to-day admin and bookkeeping, pouring over Excel spreadsheets and tackling HMRC when you should be concentrating on new avenues for growth, a Chief Financial Officer (CFO) is the solution to the problem. Rob Jones, Founder of RJF, explains that no matter how large or small your company, and no matter what sector you’re operating in, a financial director (FD) will work with you to build a clear financial strategy – providing opportunities to evaluate overheads, costs, turnover and profit, in line with industry economics and performance rates.
Financial strategy needs to form an overarching framework in any business and is necessary to guide key decisions. With a clear strategic plan in place from the offset, businesses with a CFO can set about executing plans, safe in the knowledge that outgoings and turnover are 100% accounted for.
So How Do You Know When It’s Time to Outsource?
For those with a turnover of less than £5 million, a virtual CFO will provide advice on your company’s performance, they’ll help with the financial side of scaling up, they’ll identify investment opportunities and they’ll guide you when expanding into new markets.
If your aim is to perform better and grow, a CFO is a no-brainer. RJF offers its clients the expertise of a virtual CFO, meaning you’ll have an experienced UK-based professional on-hand for a fixed monthly fee. This can be a savvy alternative to bringing someone in-house, allowing you to avoid costly overheads.
How Do You Know When to Bring Someone in House?
There can come a time when a virtual presence won’t cut it. Businesses with a larger turnover present complexities that require more hands-on time and focus. If you’re planning a merger or acquisition, looking at developing an exit strategy or exporting into overseas markets, bringing an expert into your business makes sense. A CFO that works in-house amongst your team will be an extra cost, but their influence over the growth and commercial acumen and risk management of the business will tend to be worth the investment.
When it comes to bringing someone in-house, RJF can help too. RJF has a sister company, RJF Recruitment.
RJF Recruitment was founded by Rob Jones, (founder of RJF Accounting & Business Services), who has spent over 15 years as a Finance Director for a global PLC, alongside directorships with high growth SMEs and local business startups. RJF Recruitment has a unique insight into your staffing needs that other recruitment agencies would struggle to compete with.
We have an extensive database of experienced Finance Directors and CFOs who have worked with businesses at various stages from start-up to global PLCs. We have established relationships with Outsourced Part Time FD service companies and we use the latest technology to make sure we get the right person for you.
Growing businesses will benefit from tapping into external financial and consulting support. RJF has established relationships specifically to help privately-owned businesses achieve their ambitions. A business advisor will work alongside you, bringing value through their insight and by connecting you to market-leading insights, ideas and people.
Whatever the size of your business, RJF can offer a solution to match your ambitions. Financial planning is one of the most important things a business can do, so it’s important to get it right as soon as possible.