James Dawson
All the perks and expertise as you need.
Benefit from getting the support you need without the burden of employing a CFO
A Virtual FD is your own qualified accountant who will spend as much time and energy on your business as you need, offering flexibility, reliability and trust. A VFD is not a full-time employee, but you can use their expertise whenever required.
Financial advice for a fraction of the cost of hiring a full-time CFO
A VFD is a fully qualified accountant with years of valuable experience in senior financial leadership, who provides a wide range of financial functions while being less costly and more straightforward. You only have to pay for the time you need and the services you require, as and when you need them.
Positive practical aspects
Virtual Finance Directors can also help you implement a range of practical measures to increase your financial success. Increased sales, improved turnover and profitability, identification of new trends and financial patterns, strategic planning and cash forecasting.
An FD that brings a new perspective.
“During the COVID crisis Square Mile have been a shining light in the darkness. They have advised us through VAT and Furlough issues given us tremendous support in terms of modelling our cashflow through this crisis and made our applications for CBILS solid. I cannot recommend them highly enough.”
Handling of multiple responsibilities
As a business owner, are you spending increasingly more time approving invoices or reconciling transactions, rather than putting your effort into shaping and driving your growth strategy? If you have recognised this trap, a virtual finance director (VFD) will prevent you from investing a considerable amount of your time here and allow you to focus on important growth activities.
- Monthly meetings
- Board reporting
- Management information
- Pre year end tax planning review
- Management accounts
- Keeping you fully updated with regulatory changes
- Recruiting and managing financial staff
More accuracy
For any part of your business, especially your finances, a plan needs to be devised. However now that your business is growing how will you know what to do, and where will you find the time? A VFD can take control here, whereby a plan based on real numbers and realistic projections can be created in addition to assisting in the executing and tracking of the plan.
- Cashflow forecasting
- Budgets and forecasts
- Analysis
- Cashburn monitoring and scenario planning
- Business plan financials
- Systematisation and documentation
Cashflow is king
If your cashflow is not fully understood, it can lead to business failure. With a VFD, your cash flow will be continually tracked in order to identify any obstacles, along with finding the most appropriate funding options.
- In addition, as a business owner, you are entitled to R&D tax credits, equity funding, venture capital and EMI schemes, which will all save you money whilst enhancing your growth.
- Whenever you have questions about cashflow forecasting, payroll and other financial queries, they will assist in giving you unbiased recommendations and keep you accountable.
We’re here to supercharge your role as CEO.
Planera have developed the first certified flushable and biodegradable sanitary pads that disperse quickly in water, and after a three-year R&D process, Planera has a flushability certification as well as VC backing in its pre-seed round from last year.
“Square Mile, as their accounting partner, audited their assumptions used for their Innovate UK grant. Further, their financial assumptions have been used to build a three-way forecast (profit and loss, balance sheet, and cash flow) for Planera to determine how best to launch their business. Additionally, they intended to present it to potential investors to determine how much to raise and to add credibility to their story. They successfully raised £7.5m seed funding and an Innovate UK grant to launch their product. As a part-time FD (Financial Director), we will help plan and strategize for their product launch.”
Aaron Koshy
CEO of Planera
Humble Grape went from living-room tastings to multiple venues in just over a decade. What drove them was a passion for wine, and a willingness to adopt new technologies ignited their potential. In 2014, Humble Grape raised £535K to take the brand to the high street.
“Over recent years we have seen our business experience significant growth and increased activity with respective challenges along the way. We chose to work with Square Mile due to their forward looking approach utilising technology to streamline everything and minimise manual interventions. Square Mile have worked very closely with us to build a strong relationship where we feel fully supported and well advised from both a financial and general business perspective. Their proactive and personal approach in focusing on our finance function operating effectively has enabled us to overcome the hurdles faced by a growing business – helping us to stay on course to achieving our set aims and goals.”
James Dawson
Founder of Humble Grape
Meet your new Finance Directors
Square Mile was founded by David Gormer to “escape the city” in which he built his career with Deloitte, Deutsche and Merrill Lynch. Discovering a true passion not just for technology, but using technology to help businesses scale and realise their full potential, Square Mile operates on a rock solid ethos of driving efficiency and values of flexibility, equality and balance.
“Building a business is a journey, my goal with Square Mile is to recognise the different phases of that journey and help businesses move from one to the next at a sustainable and financially-sound pace.
This is why our FD services are built to tailor cost, services and the nature of support a business needs at any given time on their upward trajectory.”
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Need us on your side?
Our number one priority is you, your business and helping you to make the most of the figures. If that sounds like what you need, then book a call with us!
