Swifton CFOs provides emerging businesses with cost-effective outsourced (part-time) financial leadership and support to clients with the goal of handling all accounting financial and administrative matters so entrepreneurs can focus on driving the business.
We will advise as the part-time CFO, operate as the outsourced Controller, or provide any level of accounting help required for a growing company. Our strength is in working with entrepreneurs to create integrated financial models that make sense to founders, investors and boards. We work with the Accounting Managers and Controllers, mentoring them, so they develop into strong contributors for the enterprise.
Swifton CFOs develops the financial framework for a scalable business. We have discovered in working with emerging companies that it makes sense to have some limited involvement early to insure that they are setup the right way in accounting (to some degree bookkeeping), in projecting out costs and cash flow—determine cost of additional resources, and in having someone, even on an ad hoc basis, that can assess pricing and margins as well as question the revenue model.
A full-time CFO cost approaches $260,000 because the base salary is not the only cost. Average base salaries for CFO's of private companies are $180,000 plus bonuses of 20% ($36,000), payroll taxes ($15,400), benefits ($24,000), other expenses (seminars, etc.) ($2,000), and these costs do not include time missed for vacations taken, holidays, and sick time. We have also not considered that a CFO would expect an equity stake in the business. Two other major costs involved in hiring a CFO are recruiting costs and severance (since, unfortunately, the hire does not always work out).
Compare the high cost of a full-time CFO with a part-time, modular CFO who is there when you need them at a lower cost and it is an easy decision.