What is a Fractional CFO?
A Fractional CFO is a part-time Chief Financial Officer who provides financial leadership and strategic guidance to a company on a temporary or as-needed basis. Fractional CFOs are typically hired by small and medium-sized businesses that may not require a full-time CFO but still need high-level financial expertise to help with financial planning, budgeting, forecasting, and overall financial management. Typically, a CFO is a Accountant or Finance Business Partner who has had experience leading businesses through critical phases of their lifecycle.
What are the benefits of a Fractional CFO?
A fractional CFO can provide several benefits to a company, including:
- Cost-effectiveness: Hiring a fractional CFO is typically more affordable than hiring a full-time CFO, as you only pay for the services you need on a part-time basis.
- Expertise: Fractional CFOs are experienced financial professionals who can provide high-level strategic financial guidance and expertise to help your company make informed decisions.
- Flexibility: Fractional CFOs can work on a flexible schedule, allowing you to access their expertise when needed without the commitment of a full-time hire.
- Scalability: As your company grows, a fractional CFO can scale their services to meet your changing needs, providing financial leadership and support during periods of growth or transition.
- Objectivity: An external fractional CFO can offer an unbiased perspective on your company's financial situation and help identify areas for improvement or cost savings.
Overall, a fractional CFO can help your company improve financial performance, make better strategic decisions, and achieve long-term success.
Effective financial management for start-ups and scale-ups
Need support with financial strategy, business finance, growth finance, and financial management but at a reduced cost? A fractional CFO could be the answer.
Fractional CFOs have the same experience and knowledge as full-time CFOs, but usually work for several clients – rather than being employed by one usually on a consultancy or subscription basis. This way of working means far less expenditure; as the typical cost of a full time CFO in the UK is between £160k - £300k+ p.a.
Fractional CFOs can fulfil a huge range of business needs, ensuring your business is reaching its objectives and beyond. At Fractional Finance, we can help you with:
- Keeping you core finances in good shape – bookkeeping, cash flow management, new systems and software, and data collection and analysis
- Ensuring you have a solid business strategy based on actionable data and insight
- Keep your business open to opportunities and operating more efficiently through forecasting
- Provide financial & strategic counsel to your C-Suite and board to keep you progressing
- Minimise any potential risks your business could face
- Prepare you, your team, and your business for investments or exit
Working with you for fewer hours a month compared to an in-house CFO doesn’t mean delivering a lesser service. We’re here to make an impact.
Want to find out more about how one of our fractional CFOs could help your business thrive? Contact us today.