Finance Director – FAQ

If you are considering employing a Finance Director or using the services of a business providing such services, we recommend that you visit our resources section where we have included a publication by the Chartered Institute of Management Accountants entitled

Appointing the Right Finance Director for Your Business

We recommend you read this to help you ensure your Finance Director has the right qualities for your business.

Set out below are some frequently asked questions about our Finance Director service.

Why do I need a Finance Director?
As businesses grow and become more complex, many rely upon ad hoc advice from their external accountant.  Important as this is, they are unlikely to work closely with you on a regular basis.  As a Finance Director we bring many years of industrial and business experience and work with you as part of your team, providing an increased level of financial input into your business.

A Finance Director sounds expensive – how much will this cost?
The latest salary surveys showing that with national insurance and executive benefits the cost for a full time Finance Director is likely to be in excess of £100,000 per annum.  The value they bring far exceeds this or they wouldn’t be employed to do the job.  Most companies don’t need a full time Finance Director; they need financial expertise, bespoke to their requirements on a part time / ad hoc / project type basis to have an input and add value in those areas that are relevant to the business.  Real impact and added value can be obtained for a fraction of the cost paid by the large companies.  We would meet with you initially to review your business, agree your needs and discuss the benefits that we could bring before any discussion of fees.

Would your fees be fixed or time based?
Our fees are always based upon delivering what your business needs, and this is agreed with you prior to us undertaking any work.  Our method of charging, and if appropriate fixed fees, would be agreed with you in advance.  By working in this way you do not have the long term overhead commitment associated with a full time member of staff.

What is the minimum time commitment?
There is no minimum contract period, so we can work with you on a part time, interim or project basis

There is also no minimum commitment of days per month..  Our services are totally bespoke to your business requirements and what your business needs.

Will we be required to appoint you as a director?
The term Finance Director is used to describe the sort of work we undertake, providing senior financial input to the direction of the company.  We would not be seeking to take up a position of company director, and so you would not be losing any control of your business – we work to assist you increase the level of control you have within your business.

Where is the work carried out?
To be able to have an input into your business we need to understand how it works operationally, not just the finances.  To do this we expect to spend some, if not a large proportion of our time, working at your premises, understanding the business and the people within it.

What area do you cover?
We are based in Doncaster, South Yorkshire, but our service delivery is not restricted by our geographical location.  We have successfully supported business across all of Yorkshire and Humberside, the North West of England and in the East Midlands area.

How quickly could you start?
Recruiting a Finance Director can be a long process, often taking many months.  We are generally able to start and add value to your business at short notice.

 For an initial discussion call George Watts on 01302 842831 or use our contact page