Why The Finance People?
In today's business world, financial management is crucial to the success of any organisation. That's why having a Finance Director is essential. A Finance Director (FD) is responsible for managing the financial health of a company, making strategic decisions, and ensuring that the company's financial goals are met.
For small and medium-sized enterprises (SMEs), hiring a full-time Finance Director can be expensive. However, this doesn't mean that they should compromise on financial expertise. Part-time finance expertise can be a game-changer for SMEs. A part-time Finance Director can work on an as-needed basis, providing the necessary financial support without breaking the bank.
In this blog, we'll discuss the importance of hiring a Finance Director for SMEs and why The Finance People are the professionals to work with. So, if you're an SME looking to take your financial management to the next level, keep reading!
The Signs You Need to Hire a Part-time Finance Director
If you are an SME or startup, it can be a challenging decision to decide when to bring in a part-time finance director. However, there are several signs that can indicate the need for a part-time finance director.
You Don't Require a Full-time Employee
Firstly, if you don't have the need for a full-time employee, but still require financial support, then a part-time finance director can be the perfect solution. This allows you to access the expertise and support of a finance director without the financial burden of a full-time employee.
You Need a Cost Effective Solution
Secondly, if you are working with a tight budget, but still need financial leadership, a part-time finance director can be an excellent option. This way, you can receive financial expertise and guidance without the cost of a full-time employee.
You Need a Flexible FD:
Additionally, if you are unsure about what type of finance professional will benefit you best or require an interim professional, a part-time finance director can offer the flexibility and knowledge necessary to help you make the best financial decisions.
Why the Finance People? Your Trusted Partner for Fractional Finance Directors
The Finance People are a premier provider of part-time Finance Directors. With a wealth of experience and expertise, The Finance People consists of a team of finance experts who can work on an interim or part-time basis to provide strategic financial guidance to your SME. Our team of highly qualified Finance Directors can help businesses of all sizes and industries to improve their financial performance, reduce costs, and increase profitability.
The FD’s employed by The Finance People have years of experience and are highly qualified with relevant accounting or finance qualifications. They bring a wealth of knowledge and expertise to the table, enabling businesses to benefit from their financial acumen.
The duties of a Financial Director (FD) include overseeing a company's financial plan with the aim of promoting its expansion. From cash flow management to exit planning, a part-time FD can help you with the same financial tasks that a full-time FD would do.
The Finance People's Finance Directors have a proven track record of delivering results and achieving financial objectives for their clients. Their in-depth understanding of the financial complexities of businesses enables them to provide strategic financial advice, helping businesses to make informed decisions and achieve their financial goals.
Finally, we look to foster a long-term partnership with our clients and this means being flexible to their needs at that moment in time. For example, a client might start requiring a Part-Time Finance Director on 2 days per week to overhaul the long-term strategy and set processes in place. However, they may be able to reduce their requirements and work with a Finance Controller moving forward, to maintain the processes and keep the ball rolling, saving costs in the long-term. Our varied and flexible approach is what makes us different from our competitors.
Benefits of Hiring a Part-time Finance Director via The Finance People
Flexibility and Cost Savings: No Sick Pay, Holiday Pay, or Maternity Leave
The Finance People offers a range of benefits for businesses looking to hire a part-time Finance Director. One of the most significant benefits is the flexibility and cost savings that come with this arrangement. Employers are not responsible for sick pay, holiday pay, or maternity leave, as these are covered by The Finance People. This can result in significant cost savings for businesses, as they do not need to provide additional benefits for their part-time FD.
Continuous Support and Reliability: Seamless Coverage during Absences
Another advantage of hiring through The Finance People is the continuous support and reliability that comes with the arrangement. In the event that the fractional Finance Director is on holiday or takes unexpected leave, The Finance People can quickly assign a replacement FD to ensure continuity and support for the business. This means that the business can rest assured that their finance needs will be taken care of, even in the event of unforeseen circumstances.
Easy Transition to Full-Time Roles: Evolving with Your Business Needs
The Finance People also provide easy transitions to full-time roles. We offer tailored finance solutions to meet the specific needs and goals of the business. This means that businesses can easily transition from a part-time Finance Director to a full-time role without the need for redundancy or complicated HR processes. Scalability is also supported, allowing businesses to adjust the level of finance support as they grow. This makes The Finance People a flexible and reliable partner for businesses looking to meet their finance needs.
Extensive Network and Expertise: Access to a Team of Finance Professionals
Another advantage is the extensive network and expertise available through our team of finance professionals. With access to a diverse set of skills and industry experience, businesses can tap into a wealth of knowledge that can help them make informed decisions and ultimately improve their bottom line. The Finance People's network of Finance Directors are equipped to handle a wide range of financial needs, from accounting to financial planning and analysis. By leveraging this expertise, companies can gain a competitive edge and achieve their financial goals more efficiently and effectively.
Hiring Fractional Finance Directors With The Finance People
Hiring a part-time Finance Director through The Finance People is the best decision you can make for your business. The flexible arrangement provides cost savings, continuous support and the option for easy transition to full-time roles is unparalleled.
For those seeking unique benefits, cost-effectiveness, and specialised financial expertise, The Finance People offer the perfect solution. Get in touch for a consultation to discuss your business requirements and how we can support your SME to grow from strength to strength.