CFO for Canadian Startups and Small Businesses (SMB)

When should a startup or a small business (SMB) owner engage a CFO?

This frequently asked question can be answered quite simply. When you, the owner of the business:
  1. Are lacking financial expertise;
  2. Aren't comfortable with your knowledge of your business' and/or your family's:Small business questions
    1. Financial position; or
    2. Flow of income; or
  3. Want access to experience-based results-oriented advice and services when it's needed at an affordable cost;

then you should look at engaging a part time CFO. The size and complexity of the business and its needs will dictate the nature of the engagement, whether on a project, or an ongoing part-time basis.  

The CFO role has changed

Wikipedia says "Traditionally being viewed as a financial gatekeeper, the role of the CFO has expanded and evolved to a strategic partner and advisor to the (Owner/Operator)". This combined with the rapidly increasing role CFO's play in technology choices (see article CFOs Join CMOs In Tech Power Grab), means that today's CFO needs to bring the following skills and characteristics to the table:

  • Entrepreneurial spirit, acumen and know-how.
  • Financial Stewardship;
  • Experience in all facets of small and mid-sized business opportunities and issues;
  • Tech-savviness; and
  • Experience in data collection, reporting, analysis and interpretation.

Our CFO for Canadian SMB Services

InHouseCFO provides affordable, high-ROI part-time CFO services to owners of small businesses in Canada who want to see increased results, faster. These services, which are contracted for on an annual renewable basis, include:

  1. Ensuring that you have:CFO Services for small business provide competitive edge
    1. Your business processes well defined;
    2. Identified the key performance indicators (KPI's) for your business to use to measure success;
    3. Necessary systems and solutions in place to successfully execute and collect relevant data for your business;
    4. Real-time reporting that is required in today's business environment to compete:
      • This includes budgeting and forecasting all KPI's;
  2. Experience-based analysis and advice to assist you in managing your business;
  3. Financial stewardship:
    • Ensuring that the financial affairs of the business are properly addressed and compliant with regulations;
    • Managing the quality and costs of relationships with professional service providers; and
  4. An unlimited number of special projects drawing on our deep experience in working with businesses like yours.