The right time to appoint full time CFO is when the SME is having rapid growth of business. When the business grows at a quick pace certain industrial and legal risks arise that need to be identified and responded in a timely manner. The experienced and insightful CFO continuously oversees the dynamic business environment and monitors the growth of the company to avoid penalties and loss of opportunities.
Seeking experienced and efficient financial advice from outsourcing firms is not a new trend in the corporate world. This could be best option for a small business who cannot afford an FTE quality expert to help them out in financial management. Outsourcing establish new lean model in managing the business. Business owners can take full output of their resources by having a trusted, well priced and always ready at disposal. SME can have a consulting CFO to help them out on specific projects or at overall strategic level. Having wise CFO advice would prove an investment for company rather than an expense.