This is a question which often crops up on LinkedIn or at networking events and there are many possible answers. Although SMEs can range up to £40m+ annual turnover, with considerable complexities in their operation, we are of the belief that an SME rarely has the need, or budget, for a full time FD.

Recruiting someone into this role can be very expensive and it's unlikely that enough consistent Director-level work will exist to make it a worthwhile investment for the business, or engaging enough for the individual. This often results in a revolving-door situation, with the FD moving on after a relatively short period of time and the business incurring the cost of another high-level recruitment exercise.

The alternative has traditionally been interim appointments. If you have a specific project that needs FD-level scrutiny, such as preparing for an acquisition, managing an HMRC inspection or getting your cash flow under control, you can engage an interim, but this usually entails a 3, 6 or 12 month commitment, which may still be beyond the budget of an SME business.

PPX has a better solution. We offer minute-by minute FD-level advisory and consultancy support. Whether it's over the phone, on email, Microsoft Teams or (subject to geographical location) in person, you can sign up to one of our monthly support packages and only pay for the support you need. Everything is charged on a pro-rata basis, and there's no rounding up or down. See below for details or contact us with any questions.