Best Fractional CFOs
If you’re a startup or small business owner, there’s a good chance you don’t have the time to manage your company’s finances. It can be challenging finding the right person for this job when it comes to balancing your other priorities. Here fractional CFOs come in.
A fractional CFO is typically an individual with significant financial experience and knowledge who will take on a smaller part of your company’s finances. You can choose from different levels, such as taking care of the monthly reconciliations or handling all of the organization’s budgeting. This gives you more flexibility in hiring someone to fill this position while also giving up some control over it.
Why Choose A Fractional CFO? More Flexibility: The benefits include letting them handle only that which they are skilled at; so if you’re looking for someone to get your books in order but not manage cash flow, then a fractional CFO could be perfect for you!
Another advantage of hiring a CFO is in the cost. It’s common for companies to seek out a CFO on a full-time basis because they want them fully invested in the company and focused only on doing their job well, which can be costly depending on how many hours are worked each day. However, fractional CFOS allows you to get someone who is skilled enough in finance but not necessarily able or willing to work long hours every week–you may end up paying less than if you hired an entire staff of professionals while still getting more attention paid to your finances!
You need to assess your needs and decide if you need a CFO or just need someone who is skilled in accounting. You also need to think about how many hours are needed and if the skillset you want can be achieved by hiring a fractional CFO, or if it’s best to hire an entire staff of professionals with that specific skillset.