Fractional CFO Services: A Viable Solution to Financial Challenges
When you’re running a small business, it can be difficult to find the time to keep track of your finances properly, especially when you’re on top of everything else that goes into managing your company.
The solution could include hiring a fractional chief financial officer (CFO). A fractional CFO is a part-time CFO for small companies. They’re not full-time, fixed employees; instead, they work on a contractual basis for businesses that need help with their finances but don’t want to commit to a full-time CFO.
The Valuable Role of a Fractional CFO
If your business is growing rapidly, it may be challenging for a small team to handle all the duties associated with running a successful business. Fortunately, fractional CFOs are available to help meet the demand for additional financial assistance. They can guide everything from payroll management to tax strategies that help ensure compliance while saving money on taxes. Fractional CFOs can also assist you in analyzing your market and making critical decisions, such as whether to expand and when to recruit workers.
What Services Can a Fractional CFO Provide?
A fractional CFO can provide a wide range of services, depending on your needs, including:
- Creating budgets and financial plans
- Managing cash flow and investments
- Analyzing costs and identifying areas where you can cut expenses
- Helping you plan for your company’s future growth, including expansion and new product lines
- Managing the financial aspects of mergers and acquisitions
- Providing advice on tax issues and helping you find ways to reduce your company’s tax burden
Who Should Consider Working with a Fractional CFO?
Fractional CFO services provide many benefits for businesses that may be looking for:
- Reduced costs. The cost of hiring a full-time CFO can be limiting for many small businesses; however, fractional services allow companies to pay only for the hours they need without having to hire an entire department at once.
- More flexibility. Businesses can hire fractional services when necessary. This allows businesses to grow or shrink their finance staff as needed without worrying about hiring a full-time employee who may not be needed in the future.
- Increased expertise. Fractional CFO services are made up of experienced professionals. Small businesses can benefit from their expertise without the need to hire and train a new full-time employee whose knowledge and experience may be uncertain.
Schedule a Free Consultation with an Oregon Certified Public Accountant Today
If you’re looking for an Oregon fractional CFO to help your business grow and progress, contact the digital accounting firm Perpetual CPA.
Our management team has over 35 years of combined experience in various financial specialties. We focus on helping companies improve cash flow and manage their finances so they can focus on what matters most: growing their business.
We serve Portland, Hillsboro, Beaverton, Wilsonville, Happy Valley, and the surrounding Oregon communities.
111SW Fifth Ave.
Portland, OR 97204
Email: [email protected]