CFO SERVICES FOR STARTUPS

WHAT ARE CFO SERVICES FOR STARTUPS?

Financial strength and stability is the fuel that boosts the growth of any business big or small and so financial planning is of cardinal importance. It’s important to plan how to make the best use of the funds available, how to raise money, where-when-and how much to invest, is a question that needs to be answered after proper analysis of several factors. This is where the expertise of a Chief Financial Officer (CFO) is required.  The CFO acts as a treasurer of the company who will supervise the financial planning and speculate if there is any probability of any kind of potential financial risks. The financial planning will not only help the business to maximise the promise but also run in a more secure way.

Why Choose Us For CFO Services?

TheStartupGIG (Pooja Terwad & Associates) being a startup itself, works with the vision to make the journey for other fellow startups work and we understand the nuances involved in the process. After understanding your journey behind building the company, dreams with your business, your goals and we will help you determine the best for your service. We realise the importance of strategic financial planning and expert financial advice and while we do that for you, we will step into your shoes and deliver the best for your company. We will help minimise the financial risk and maximise the profits. We are committed towards serving you by assisting you achieve a more efficient business strategy and other legal and essential aspects so that you never feel lost with any compliance or serviceable aspect. We assure you the best return on investment. 

ROLE OF A CFO IN A STARTUP?

How much funding do we need? How much profit are we going to disperse? What if the collaboration doesn’t work out? How will we recover from the financial loss? Budget for the next three months? How much should we invest in that project? How to pay for the employees’ salaries? —–These are questions that often trouble the minds of the entrepreneurs or business owners and in this dilemmatic situation the business owners need expert advice. Startups and any other big businesses as well, have a lot on their plate: that include taking care of technical issues, creative and unique product development, legal issues, financial issues, etc. In today’s ever growing competitive market, it is very important that a company establishes annual or semi-annual financial goals, efficient cash flow, and keeps track of the expenditure. So, hiring a CFO to deal with all the financial and related issues, makes the work a lot easier for them. They help bring credibility to the company.

WHY DO WE NEED CFO SERVICES?

Just like a doctor helps us determine the disease, performs tests to analyse the severity, advises us on how to take care of our health, gives us medicines and warns us about any future potential risk, a CFO will help determine the financial health of the business.

The CFO will tell us about the loopholes in the financial strategies and investment plans of the business, find out appropriate solutions and assess any kind of probable risks. A CFO will help in:

  • Analysing the financial strength and weakness of the company 
  • Monitoring and managing accounting records
  • Estimate the market value of the Company 
  • In setting up a proper budget
  • In conducting a financial analysis
  • In understanding the competitive capital market 
  • In making a justified and profitable investment plan 
  • maximising the profits
  • In appropriate dispersal of profits 
  • In forming new profitable financial relationships
  • In tax minimisation 
  • Assessing the income and cash flow
  • Use the funds in the most profitable way 
  • Ensure financial security 
  • Ensure asset protection if the company 
  • In risk assessment and future financial planning 
  • Conduct financial Due-diligence 

The Role Of CFO In Solving Major Problems of Startups

How much fund does the company require?

CFO helps to assess the amount of funds and also the best ways to raise it. CDO will help with the financial due diligence. This will help prevent any kind of regulatory actions, help assess the market value of the company and also attract potential investors

How to invest the fund?

CFO will make sure the budget is made based on which the fund will be faced to ensure optimum utilisation to yield maximum profits. The CFO will help manage the cash flow. 

CFO helps prepare an Annual budget that will have an estimate of the expenditure and cash flow so as to maximise profits.

How much of the profit should be invested back?

CFO will help with an appropriate dispersal of profits and a financial strategy.

How to cover up for this financial loss?

CFO will firstly help assess any kind of potential financial risks and also help prepare a financial backup for funds in case of any loss. CFO helps the startups with a strong contingency plan for debt recovery or any kind of loss in business

Will our company benefit from this collaboration or merger? Or Where to Invest?

CFO will help gain an estimate of the profit or loss the company might incur as a result of any collaboration or investment  or mergers and acquisition and thus help the authority take appropriate decisions.

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Frequently Asked Questions for CFO Services For Startups

Whom does the CFO advice?

CFO advises the CEO or The Board of Directors of the Company. 

What is the Position of the CFO in the company?

CFO is the chief financial advisor and controller of the company.

What are the different kinds of CFO services available?

CFO services can be full time, part time, shared, virtual etc. 

Why should we hire a CFO?

CFO contributes towards the  financial stability, security and credibility to the company.

Who appoints the CFO?

The Board of DIrectors upon mutual discussion and agreement  or the CEO appoints the CFO.