SMEs need their senior finance person to have a good grasp of a broad range of subjects, from accountancy principles,through commercial matters such as contract law and employment regulations, to strategy, fundraising and exit choices.
Although there is no one-size-fits-all definition of the service, there are 4 key areas that comprise the FD-UK service proposition:
Setting up and running an efficient accounts function, which not only reports on a timely and accurate basis, but adds value by acting as a source of information and insight;
Business strategic planning, including forecasts and budgets, business plans, developing growth strategies, evaluating and mitigating risks;
Supporting the business's commercial activities: pricing, RFPs, contract negotiations;
Corporate finance services: fundraising, IPOs, M&A activity and restructuring - includes SEIS/EIS matters and share incentive schemes.
Additional expertise, such as taxation or employment law, can be quickly brought to bear through a network of tried and trusted external professionals.
FDUK works with a small portfolio of clients on a highly flexible basis. Time is usually charged on a per hour/day basis, but if a set budget or a regular timetable is required, that can be arranged.
We consider it a key indicator of success if the client outgrows FDUK and needs a full-time FD. When this happens, we will provide full assistance with recruitment and handover.