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  • Writer's pictureDiana Miret

Question # 29: Do I need a Part-Time CFO?

Updated: Jan 10, 2023

Here are the signs that your business needs a Part-Time CFO

Given the financial complexities even small businesses face, the services of a seasoned financial professional are truly beneficial. However, many business owners prefer to invest their resources in aspects that more directly focus on the improvement of their business rather than bookkeeping tasks. Of course, some businesses simply can’t afford to hire a full-time CFO but may still need help with their finances. Outsourcing these tasks to a part-time professional can be an excellent solution. Some definitive signs that your business needs part-time CFO services include:
  • Rising accounting errors and confusing financial reports

  • Needing to approach banks for funding

  • Spending outweighs cash flow

  • Declining profits or underperforming profits

  • Preparing to sell your business

  • Planning on acquiring or merging with another company

  • Planning on expanding your offerings

  • Needing help with tracking growth and performance

  • Needing help with budgeting and financial forecasting

  • Preparing for a pending audit

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