Any used the FD Centre or similar?

[foliedouce]

Historically I've run bigger businesses with a full finance team, however I'm now leading a very small business and need the capability of a decent FC & FD, but can't afford (and don't need) them full time.

eCommerce products based business, circa £2m t/o.

I have seen the FD Centre offer this kind of service, and just wondered if anyone had any experience of them?

Thanks

Jason

[B9]

It depends on what you're looking to get from an FC/FD. Do you have any inhouse finance at the moment?

IMO (having been through similar), for a 2m t/o business you shouldn't need a full-time FD unless you're thinking of M&A, growth or exit planning in the near future.

Edited by B9 on Wednesday 14th July 10:13

[foliedouce]

Thanks, I have a part time FC who is leaving, and a part time finance admin person who is staying.

I want FC services for cash flow / p and l etc and an FD to help analyse the commercial decisions

[APontus]

Would a NED with an FD background be a cost effective way to get that analysis?

[foliedouce]

I've got a NED with relevant commercial industry experience

From the FD, I want someone that can set up models for various commercial ideas to help make an informed decision. I need someone more hands on than a NED

[DSLiverpool]

My accountant offers this service, we would have a monthly strategy meet and anything not clear I could read between the lines. Pretty vital when scaling Velstar.

[vanman1936]

I worked for the FD centre briefly, you tend to get a high quality (larger company) FD for a day a week. Good option, but cheaper if you can find someone direct.

[500 Miles]

foliedouce said:

Historically I've run bigger businesses with a full finance team, however I'm now leading a very small business and need the capability of a decent FC & FD, but can't afford (and don't need) them full time.

eCommerce products based business, circa £2m t/o.

I have seen the FD Centre offer this kind of service, and just wondered if anyone had any experience of them?

Thanks

Jason

I’ve not used them but their sales approach was very annoying - wouldn’t take no for an answer which meant I decided I would never use them, even if I had the requirement.

Tilesh Patel @ The SME Clinic is very good and offers a similar type service. Ex Virgin Group and has a lot of experience scaling and selling businesses.

[pmanson]

A personal recommendation from me.

We're using Annie and her team at http://cornerstonefd.co.uk/

She's a PHer, who I've known personally for 10 years and we've been working professionally with her (acting as our FD) for thr last 6 months.

We then have a separate accountant who we've retained as we were already working with them and happy with their services.

[Frimley111R]

Do a search on here, been posted many times before

[s2kjock]

DSLiverpool said:

My accountant offers this service, we would have a monthly strategy meet and anything not clear I could read between the lines. Pretty vital when scaling Velstar.

Accountancy firms should offer this.

The firm I work for certainly does.