As a small business CFO, your role goes far beyond just managing the numbers. You are a strategic partner, responsible for steering the financial health and success of your company. To effectively fulfill this role, it is crucial to identify and track key financial metrics that provide insights into your business’s performance. In this blog Read more about Financial Metrics Every Small Business CFO Should Track[…]
Inflation has ballooned worldwide in recent months, and there’s no question that small businesses are feeling the pinch. Supplies cost more, employees are hard to find, and profits are shrinking. Here are seven tips on how to adjust for inflation. It’s undoubtedly challenging, but you can adjust for inflation by following these tips. 1. Study Read more about 7 Tips on How to Adjust for Inflation[…]
A fractional CFO (Chief Financial Officer) is a finance professional who works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level CFO to your business without the cost of hiring a full-time, in-house employee. Fractional CFOs can service several clients at once. Because their financial management skills are Read more about What is a fractional CFO?[…]
Companies tend to progress more consistently if the owner sets business financial goals and makes a plan to achieve them. The new year is a natural time to decide what you want to achieve and how. With that in mind, read on to learn the steps for setting financial goals for your business for 2023. Read more about Setting business financial goals for 2023[…]
Every small business can benefit from the dedicated financial management expertise that comes with having a CFO. However, very few small businesses have the means to hire someone full time for this role, particularly in the lean early years. Often, it’s the first few years when a company is starting up that establishing good habits Read more about How “Virtual CFO” Services Can Help You Grow Your Business[…]
The 5 signs you need an outsourced CFO. When you start a small business, it’s usually only you behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows with it. As Read more about 5 Signs You Need an Outsourced CFO[…]
Your business needs cash. Cash is what keeps your company in operation and enables it to grow. Therefore, it is important to know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case. That’s why I thought it might be helpful Read more about Small Business Cash Management Insights[…]
Ideally, you and your accountant are more than just “adviser” and “client”. With your combined skills, expertise, and shared mission to support a thriving business, you’re more like strategic partners. The key to achieving success in any partnership is, of course, strong communication. At your next meeting, be sure to ask the accountant these four Read more about Four Questions to Ask the Accountant[…]
Wondering how to evaluate a company budget? Our blog post will provide an overview of key areas you can focus on when reviewing your budget. It’s a good idea to take a look at your company budget every quarter and see where you need to shift your priorities. Furthermore, review business spending over the past Read more about How to Evaluate a Company Budget[…]
Hiring an accountant whether inhouse or outsourced is considered best practice for small business owners. Delegating the various accounting functions doesn’t mean completely checking out of the process each month or quarter. On the contrary, it’s recommended that business owners work closely with their accountants throughout the year to better understand their financial position and make Read more about Six Essential Accounting Terms for Small Businesses[…]