CFOutsourced

Too often business owners spend too much time mastering the day-to-day details of their business, wear so many hats that it starts to blur their days and quickly bog you down easily and lose sight of the bigger picture.

Unlike larger and well-established businesses where they are more resourceful and can afford to hire their own CFO in-house, SMEs struggle to address the issue of accessing experienced finance professionals on a relatively small budget.  Perhaps you don’t know if you can afford it, or simply ignore the issue until it’s too late.  

The COVID-19 pandemic is a wake-up call to many SMEs where business model seems to be outdated overnight.  Instead of being proactive and be ahead of the game, many traditional businesses were caught off guard and too stunt to react to a crisis like this one.

Here are signs that your business may need a CFO if you:

• Are bogged down in the day-to-day recovery post pandemic

• Are having difficulties in your business as a result of a material change or shock

• Lack crisis management and contingency planning skill

• Feel out of control

• Struggle to maintain cash flow and lack confident in your financial data

• Are having a hard time funding growth

• Want to supplement and train up your existing finance team

• Need to restructure your borrowing arrangements

• Are having succession planning

• Are seeking a more cost-effective solution to a full-time CFO