As business goes through each of these steps, it needs an experienced strategic partner to lead & manage the financial aspects of the business. Multi-national enterprises often have in-house CFO’s to take care of the information required for decision making, whereas small and medium entities including start-ups with brilliant ideas can not afford to have it, leading to unstable financial future and additional compliance costs in the nature of penalties. Start-ups will not fail if proper budgeting and cash flow is planned at the initial stage. Whether its High-growth start-ups, Venture Capital funded Start-ups, established IT and other Companies, they need someone to lead, advise and setup its finance function.
Often, Promoters/The MD/CEO are busy handling multi-tasking such as day-to-day activities, supervision,and meetings but ideal areas for them should always be developing strategies, evaluating performance,execution of results and resource development. To focus on ideal functions, they should ensure below 5 major areas to be handled by competent partners.