Why more SMEs are Hiring a Part-Time CFO

Fractional CFOs give SMEs the financial expertise they need without a huge capital outlay.

It’s hard work running an SME. Small business owners and start-up founders wear many hats, from sales and marketing to dealing with staff issues, acting as CEO and even CFO. Being all things can be exhausting and, as the business begins to scale, it becomes untenable. It’s at this point that the business owner or founder may start thinking about hiring an executive team.

A Chief Financial Officer is a vital wheel in the cog of any scaling-up operation. Their detailed knowledge of company data and insight into revenues and operational expenses are what inform the business decision-making process. Without this data and insight, decision-making is based on gut or instinct–becoming much riskier. Plus, if you’re looking for external funding or investment, a CFO will manage the process to ensure you’re getting the right funding from the right places. A CFO isn’t a nice-to-have, it’s a business essential.

Read the full article from Sara in Finance Middle East by clicking on this link.