To the blog for small and medium sized business (SME) owners.

Wednesday, March 28, 2007

The Benefits of a Finance Director in a Small Business

There are several benefits a finance director can give to a business owner. If a part time finance director is appointed the cost advantage is attractive, without the loss of the available skill set, should it be required at a future time.

The finance director should also:

· Release the owner from financial management of the business, enabling more time for the owner to work developing the business

· Provide control over the business finances, implementing adequate controls, preparing results and reporting to the Board

· Become actively involved with the management of the business

· Liaise with financial institutions, and other stakeholders

· Mentor the business owner as required

· Ensure modern business practices are followed

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