Need a CFO? Hire or Outsource
Apr 28, 2023
Small business owners often have accounting questions and financial advisory needs that don’t always occur at regular intervals or around tax time. Opportunities to grow your business crop up with a little warning. How does a growing business get answers to complicated financial questions?
The good news! Your business has options –
Hiring a Full-time CFO for your small business
A full-time CFO can provide the processes, financial reporting and insights needed for agile decision-making. Unfortunately for many businesses, having a CFO can seem out-of-reach.
- Hiring in-house can be expensive, and increasingly hard to find
- Relying on basic accounting or bookkeeping services can leave you at a disadvantage when your business can least afford it
- Unless you are actively raising capital or preparing to take your company public, a full-time CFO is likely more than you need
An Alternative to a Costly CFO
Hiring Interim/fractional or project-based CFO can be a resource that gives you the answers you need. This service allows you access to CFO-level experience to help improve processes or work on a time-based project. The disadvantage comes when:
- Interim/fractional or project-based CFOs are not necessarily available when you need them
- Unless you have an ongoing relationship, they will need to acquire some depth of knowledge about your business
- Many fractional/virtual CFOs may not have experience with small, growing and/or family-owned businesses and may not effectively understand the dynamics you face
Outsourced CFO Services from your CPA Firm
By partnering with the right CPA firm, you can access outsourced CFO services that don’t leave you heavy on payroll or light on the financial insights you need to drive decision-making.
- Your accounting will be optimized in QuickBooks or other accounting software to help you make business decisions and avoid lengthy clean up at tax time
- An ongoing Outsourced CFO provides you with all the monthly accounting, month-end close, and periodic strategic advice you need when you need it
- Your financial statements will be accurate and timely positioning you for growth
- A holistic approach helps you consider all the factors impacting your business including your monthly numbers, payroll, market considerations, taxes, future plans, and increasing the value of your business
A CPA with a deep understanding of your business and your financial goals can provide outsourced CFO services that are there when you need them. Kirsch CPA Group has decades of experience providing outsourced CFO services and helping countless business owners reach their goals.
Put the Collaborative Growth Model to Work for You
At Kirsch CPA Group, our work is built around a holistic approach and a collaborative model of helping clients grow and thrive throughout the entire business life cycle. From tax strategies to succession planning, our work is built around a deep understanding of your business and your goals.
Since 1991, in addition to CFO outsourcing, we have helped hundreds of growth-minded business owners plot a strategic path to success with services that include:
- Accounting & Payroll
- Tax planning & Preparation
- Audit & Assurance
- Business Advisory
- Business Valuation
- M&A Support
- Succession Planning
To learn more about what we can do to help your business grow, reach out to one of our team members.
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