The pandemic have shown the UK that it is both possible to work and beneficial to work remotely. Virtual Finance Directors are relatively new as a concept but have grown in popularity over the last 12 months. The future of business is likely to be more and more online and digital, so it makes sense to think of your finance team in the same way. It makes sense to recruit a senior financial professional as every business benefits from having an FD, but its not always necessary to recruit someone who lives within a few miles radius of your office or premises location.
If you recruit a virtual Finance Director or FD they can be based anywhere in the Country, it makes sense as the costs in rural areas are far lower than central London for example, but the skill sets of a professional accountant will be just as strong. A senior professional can always travel to your office on a regular basis for catch up meetings and to interact with the team.
There are good savings to be made in employing a part time FD, and one where they are based from home.
Having a UK based accountant is still far preferable to an international one, as they will be familar with UK working practices and have useful contacts which can be drawn upon for the benefit of the business.
What are the advantages of a virtual FD?
There are many positive aspects such as:-
- Live in a lower cost location whilst still being UK Based
- Lower costs as don’t need to work full time, can be a Part-time Virtual FD or Virtual CFO as well as full time
- Wide network of contacts to draw upon
- If they work in a network of professionals such as FD Capital then a pool of fellow professionals to bounce ideas around with.
- Strong connections and reputations which will impress banks and other third parties such as private equity houses.
- Skilled at remote working and getting the best out of remote based teams.
Are you looking to recruit a Virtual FD or a Part time one?
If you are thinking of a remote or virtual Finance Director for your business make sure to reach out to FD Capital we have a team who have been doing just that, and working from home for the last year so are really used to the challenges that this brings.
We have professionals based in London and the West Midlands who are available for immediate starts.