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Discover leading insights from our finance experts at The Finance People. Use this financial advice to enhance your strategy, to overcome common financial challenges within SMEs, or to better understand key areas of finance for business. 

How to get the most from your part-time FD

If you own a business, you know how important it is to have a financial expert on your team. However, not every company can afford to hire a full-time Finance Director. That's where a part-time FD comes in. In this blog, we will discuss what a part-time FD is and the benefits of hiring one. We will also cover tips on how to get the most value from your part-time FD, so you can ensure your business's financial health without breaking the bank.

Small business succeeding during recession
'By working towards the same goal, you can maximise the value of your Finance Directors expertise'

What is a part-time FD?

A part-time FD is a finance professional who works on a flexible basis, making it a budget-friendly option for businesses that don't require a full-time FD. The responsibilities of a part-time FD are the same as a full-time FD, but with fewer hours worked. This approach is ideal for smaller businesses or those with limited budgets.

The Finance People offer this model, which allows businesses to access the expertise needed to succeed and scale. This approach is efficient and effective, filling in the gaps in expertise within your existing team.

How does the part-time FD model work?

Our team of Finance Directors at The Finance People are highly skilled and experienced in providing financial guidance to businesses like yours. Despite working with multiple companies, our Finance Directors ensure that they give their undivided attention to your business during their time with you. This approach has proven to be successful as it allows our experts to gain experience across a range of businesses, which in turn benefits your business. Plus, you'll gain access to a Finance Director that you may not have otherwise had the resource to recruit for.

At The Finance People, we understand that every business has different needs, which is why our finance experts can work remotely, on-site or a combination of both depending on your requirements. Our flexible experts are ready to start working with you right away, providing you with top-notch guidance almost instantly. To find out more on how the part-time FD model works, take a look at our dedicated blog on our website.

What are the benefits of working with a part-time FD?

Our part-time FD model offers a range of benefits for businesses. Firstly, it provides cost savings as hiring a part-time FD is more affordable than a full-time employee, making it accessible for more businesses to receive the support of an FD. The flexible options provided by The Finance People are ideal for businesses that are unsure about the level of support required, as adjustments can easily be made.

Furthermore, businesses have the advantage of an alternative FD if the assigned expert is absent due to sickness, maternity, or other reasons. Finally, having expert help on hand allows businesses to improve their financial management and strategy, leading to better processes and strategies that can help the business thrive.

How to get the most from your part-time FD

One of the most important things you can do to get the most out of your part-time FD is to implement their recommendations. They are experts in financial management and can provide guidance on everything from raising funds to cash flow management. By taking their advice and implementing their recommendations, you can improve your company's financial position and achieve your business goals.

It's essential you embrace their input and treat them as a valuable member of the team. After all, they are specialists in their field and can provide extensive insights and advice that can help your company grow.

It's also important to consider your part-time FD as a long-term partner rather than a short-term solution. Part-time should not be confused with interim support - your FD can provide ongoing support and guidance as your company grows and evolves. By building a strong relationship with your part-time FD, you can ensure that you always have access to the financial expertise you need to succeed.

Hiring a part-time FD with The Finance People

In conclusion, hiring a part-time FD can be a game-changer for your business. By working towards the same goal, you can maximise the value of their expertise and experience to improve your financial performance and grow your business.

At The Finance People, we understand the benefits of having a flexible part-time FD, and we are committed to helping you achieve your financial goals. We encourage you to take the next step and book a consultation with us to see how our services can benefit your company. Let us help you take your business to the next level.

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