In this post, we’re breaking down the top three myths about hiring a CFO and shedding light on what a CFO actually does—so you can make an informed decision for your business.
While accountants and bookkeepers focus on recording transactions and ensuring compliance, a CFO’s role extends far beyond the numbers. A CFO is responsible for financial strategy, forecasting, risk management, and long-term business planning.
For example, if a company is preparing for fundraising or a merger & acquisition, an accountant can prepare financial statements, but it’s the CFO who will develop financial models, pitch to investors, and negotiate deal terms.
💡 Key takeaway: A CFO provides the strategic financial leadership that helps businesses grow, scale, and make data-driven decisions.
Many small and mid-sized businesses assume they don’t need a CFO until they hit a certain revenue threshold. But in reality, growing companies often require expert financial leadership even more urgently than large corporations.
Without a CFO, businesses may struggle with:
✔️ Managing cash flow effectively
✔️ Making informed investment or expansion decisions
✔️ Navigating financial risks and tax strategies
For companies that can’t justify a full-time CFO, Fractional CFOs (or part-time CFOs) provide high-level financial expertise without the full-time cost. This flexible approach ensures businesses get the guidance they need at a fraction of the price.
💡 Key takeaway: You don’t have to wait until you're a big corporation—CFO-level insights can drive sustainable growth at any stage.
The idea that hiring a CFO is always a six-figure investment is outdated. While a full-time CFO at a large company might command a £120K-£250K salary, Fractional CFOs or outsourced CFO services allow businesses to get the same expertise for a fraction of that cost.
🔹 Full-time CFO: £120K+ per year
🔹 Fractional CFO: £2K-£10K per month (based on engagement level)
🔹 Outsourced CFO Services: Custom pricing based on specific business needs
This model gives businesses access to strategic financial leadership without the overhead of a full-time executive salary and benefits.
💡 Key takeaway: A CFO doesn’t have to break the bank—outsourced and fractional options make financial leadership accessible to businesses of all sizes.
A CFO is not just for big corporations, and they do far more than basic accounting. Whether you're a startup, a growing business, or an established company, having the right financial strategy can be the difference between thriving and struggling.
If you’re curious about how a Fractional CFO can help your business grow, let’s chat! Schedule a free 15-minute consultation with RDA today.