A part time FD will often be helping either business owners or their managers to understand the financials of their business. This should always result in better decision making which will hopefully improve cashflow/profitability.
Whilst this tailored service can be very effective it does of course mean that each client is, effectively, bearing the full cost. Programs that bring a range of businesses together can not only help spread the cost but there are additional benefits to be gained from mixing with owners and managers from other businesses.
Either way Finance is a key skill for owners and managers to have at least some understanding of even if they lead the detailed interpretation, summarising and recommendations to their Finance Director. The numbers don’t just happen, businesses generate them and understanding how can be fun.
