Start-Up FDs and CFOs
Start-ups need a steady hand to get them through the first few years and onto a path of consistent growth. You might associate a CFO position mostly with companies that are household names or on the FTSE500. The evolution of the role of CFO from bean counter to business leader has made the role more diverse and accessible than ever before.
While CFOs continue to have financial responsibility, they’re leading in areas as diverse as employee retention, digital transformation, and stakeholder engagement. Start-ups face their own unique challenges with a well-placed CFO being the ideal person to support the company’s CEO in achieving its long-term ambitions.
Start-up CFOs will spend their time primarily focusing on fundraising, building relationships with stakeholders, and ensuring regulatory compliance. Recruiting a CFO can give your company credibility with financial institutions to make it more attractive to private investors and traditional institutions.
CFOs will focus on value creation, growth paths, and forming new partnerships. Start-ups are one of our specialisms at FD Capital as our team is made up of entrepreneurs and financial professionals who understand the challenges faced by companies in their early years.
FD Capital is London’s leading financial recruitment agency connecting companies with experience FDs and CFOs with backgrounds in e-commerce, private equity, corporate finance, and tech. Our candidates are available for immediate starts on both full-time and part-time contracts.
Start your search for a start-up CFO by contacting our team at recruitment@fdcapital.co.uk or 020 3287 9501 today for a no-obligation consultation.
Deciding When to Recruit a Startup FD or CFO
CEOs are usually actively involved in the process of recruiting a start-up CFO. The first decision they must make is deciding when to recruit a CFO. It’s not usually the first financial appointment a start-up will make as they’ll build a small finance team first. The evolution of the role of CFO means a CEO can mould the role to suit their company’s needs.
Deciding when to recruit a CFO will depend on the needs and operations of a start-up. The CEO at a Series A start-up may hire a financial controller first before recruiting a CFO further down the line. Alternatively, a CEO with no fundraising experience may call in the help of a CFO earlier to fill their skills gap.
Call us today for a no obligation initial discussion
Call our main number on 020 3287 9501
Responsibilities of a Start-up CFO
The responsibilities of a CFO will vary depending on the company, their role, and the long-term goals of the organisation. Understanding the responsibilities of a start-up CFO can help you determine when the right time is to start recruiting one for your organisation.
- Contingency planning
Start-up CEOs find themselves with not enough hours in the day. Many of them neglect to think of the future and long-term issues that need to be accounted for, such as debt management and enterprise planning software. Recruiting a part-time CFO can give your start-up the contingency planning it requires, as well as putting systems in place to handle sudden growth.
Experienced CFOs are invaluable for start-up CEOs and can guide them through the early challenges of their company. Our specialist start-up CFOs have proven track records of working with companies to secure funding, establish relationships, and explore new markets.
- Cash flow management
CFOs focus on the big picture, while not losing track of the day-to-day running of their start-up. Cash flow management is vital for start-ups to ensure that every penny is accounted for and spent wisely.
This management is particularly vital for start-ups funded by venture capital and those that have a high operational cost with lower revenue. Recruiting a part-time CFO can free up a CEO’s time and give them the peace of mind that bills are being paid and expenses accounted for.
- Fundraising
Recruiting a CFO is the quickest way for your start-up to get credibility with private investors and financial institutions. Whether you’re looking for private equity or a loan from the bank, a CFO will lead your fundraising strategies.
Your CFO will ensure due diligence and introduce financial planning. Most private investors will request your company hires a CFO before committing to providing funding.
- Provide Data-Driven Insights
Financial data and analytics are vital for guiding start-ups through the early years of their growth. CFOs will invest in digital tools and data that provide real-time insights and forecasting for better decision making.
These data-driven insights are invaluable for start-ups and can give them an edge over the competition. CFOs can track data relating to consumer behaviour, industry trends, and revenue.
- Establishing Financial Infrastructure
The value of a start-up CFO comes from establishing financial infrastructure. Putting these systems in place early improves your company’s scalability and streamlines its growth strategy. Start-ups can experience rapid growth, virtually overnight. This growth is only sustainable if the correct financial infrastructure is put in place to handle such pressure.
Experienced CFOs will put financial systems in place with scalability and accounting in mind, whether it’s for payment processes or overseeing financial reporting.
- Growth Planning
If your start-up gets through the hurdle of its first few years, it’ll shift its focus from survival to growth. Today’s CFOs are taking on a greater operational and strategic role, making them crucial for start-ups by overseeing their growth planning.
Start-ups can evolve rapidly, meaning their growth strategy needs to have flexibility. A CFO is best placed to form a winning partnership with their CEO to build a strong team, invest in infrastructure, and create bridges with external stakeholders.
Recruiting a CFO for a Start-up
The evolution of the role of CFO has led to a rise in flexible working and part-time positions, making the position more accessible for start-ups than ever before. A CFO will bring a fresh perspective to your company, providing financial credibility with institutions and building relationships. The strategic leadership of your CFO will be invaluable for your start-up’s growth.
Part-time CFOs mean start-ups can benefit from the skills and experience of senior financial professionals without the financial burden of a full-time C-suite position. Our talent pool of specialist start-up financial professionals is available to work on a part-time, full-time, and interim basis.
Start recruiting for a start-up CFO or FD by contacting our team at recuitment@fcapital.co.uk.
WHY RECRUIT AN FD OR CFO?
The position of CFO or FD is one of the most versatile in any company. Their role is to help you meet your financial goals and scale up your business, whether it’s through fundraising or company expansion.You might decide it’s time to recruit a CFO or FD if you want help with fundraising through government programs or private investors such as PE House investors.
Other Executives
FD Capital now has a specialist Executive Recruitment Team which handles C-Suite roles and Non-Executive Director and Chair Recruitment, please visit our specialist pages to learn more.
About FD Capital Recruitment
FD Capital are a niche senior finance recruitment network of Finance Directors and CFO’s working together with professional recruiters, we have been active in the senior financial professional recruitment niche since 2018 and are based in Great Portland Street, London. Our work is split between Part-Time, Interim and Permanent roles, around 50% of our portfolio is currently part-time, though interim and perm roles are growing faster currently.
We are always looking for new opportunities for our team, so if you need a Finance Director or Chief Financial Officer for your business either on a Part-Time, Interim or Full-Time basis, make sure to reach out to FD Capital Recruitment today for all of your outsourced CFO and FD needs. We are a leader in technology CFO recruitment particular where there is PE backing involved.
Since 2021 we now have team members in Oxford, Leeds and Bristol, so we can now more fully support those and their surrounding areas.
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