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Discover 10 Benefits of Employing a Part Time Finance Director

Written by David Willetts

What are the advantages of employing a part time finance director (FD)? Learn more........

The business owner may not be in a position to employ a full time finance director, despite the business requiring the skill of a finance professional.

An option is to employ a part time FD. What are the advantages of taking such action?

There are many, however, 10 of the important benefits of employing a part time finance director are:

1. The business owner only pays for the time the business requires the finance director.
2. A finance director as part of the management team will add credibility to the organization, and may well be welcomed by banks and investors.
3. The part time finance director will control the business finance, enabling the business owner to focus on the business development
4. The preparation of and reporting on management accounts and year end results should be undertaken in a consistent and professional manner.
5. The part time FD will assist in the setting the business strategy and planning the resources necessary to achieve a successful strategy implementation
6. The FD will act as mentor as and when required.
7. The person will bring experience, knowledge and skills from previous work to the business
8. The part time finance director will review and control overheads as required and seek cost effective alternative ways of transacting business.
9. If necessary the part time FD will assist the business in obtaining sufficient and appropriate funding.
10. The FD will monitor, identify and implement changes in systems and procedures to ensure legislative and corporate governance requirements are satisfied.

With an increasing number of small businesses requiring the skills of a finance professional, but unable to afford a full time person, the part time finance director option is becoming increasingly attractive.

For more information on how your business could benefit contact:

David Willetts FCMA AIBC
Director

DAW Consulting Limited
42 Windermere Drive
Kingswinford
West Midlands
United Kingdom
DY6 AN

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