UK’s first virtual FD service will help SMEs uncover their full potential

Every business owner dreams of a profitable company that will secure a better future for themselves and their family. However the insight required to create that kind of success usually comes from having an experienced financial director on board. And that’s a cost most small and medium-sized businesses simply can’t justify.

evirtualFD is a new Birmingham-based startup that will give owners of even small businesses access to a financial director who can help them develop a deeper understanding of their numbers and make the choices that will lead to growth.

The new enterprise – the first of its kind in the UK - is the brainchild of accountant and financial director, Lee Turner and his business partner, Sian Lenegan.

Lee is the founder of cloud accounting firm, Titanium Accountants, and Sian runs a successful Birmingham creative agency. Sian appointed Titanium back in 2014 and has experienced first-hand the business growth that a proper grasp of the numbers can bring. Sian says, "Like most business owners I'm passionate about what I do, and I viewed the financial aspects of the business as secondary to that. But actually, having the knowledge to understand what the financials mean can make a huge difference to a business’s success. Our aim is to give more people access to that knowledge by matching them with an FD who can offer what they need."

As the name suggests, evirtualFD’s service is 100% cloud-based, which, as well as making it more sustainable and economical, also helps the company’s team of virtual FDs to take a more holistic view of their client’s business and offer advice that adds real value.

“Cloud technology is an absolute game changer for us,” says Lee. “A lot of the transactional accountancy work can be automated which means our FDs can see a client’s numbers in almost real time. This gives us more opportunity to focus on what the figures are really telling us, and translate it into useful advice that will help our clients make good business decisions.”

Lee continues, “In the UK small and medium businesses pay more than £7 billion in unnecessary tax, and around 80% fail in the first two years. If these business owners had access to good advice from motivated, knowledgeable FDs, the story might be a different one.”

When you sign up to the service evirtualFD promises to uncover the potential of your business within 87 days.

Published: 8 August 2019

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