Bohemia, NY (PRWEB) December 12, 2013
Lawrence Teicher, founder of CFO Consulting Services, responds to an article published by Lehigh Valley Business, which discloses CFOs’ outlooks on business finance in 2014.
According to the Lehigh Valley Business article titled “CFO survey reveals greater confidence, but worry about regulation,” a recent survey of CFOs by TD Bank revealed that nearly 66 percent of businesses are more confident in their ability to manage finances and financial prospects in 2014 when compared to previous years. The report also showed an increase in statistics that usually correspond with a good economy. For example, 25 percent of CFOs feel free to take more risks in 2014 and most CFOs say that 2014 will bring increased business investment.
In the article, Tom Shoemaker, the market president for TD Bank, says, “This report is pretty consistent with feedback we've been getting from customers across Pennsylvania. CFOs have a better handle on their risks. They feel like the bottom's not going to fall out. Three years ago, I'm not sure the majority of CFOs had that level of confidence.”
Despite the positivity regarding business finances in 2014, the article says there is still a concern among CFOs about government regulations. The Patient Protection and Affordable Health Care Act could push economic recovery of certain businesses, and the country, back a year. The article suggests that companies planning to give raises might find they need to use the money on healthcare premiums.
Lawrence Teicher, founder of CFO Consulting Services, agrees that 2014 is the year that CFOs might finally break free from their highly conservative recession time investments. “The economy has been excruciatingly slow in recovering from the late-2008 Great Recession. Recessions hamstring CFOs into making conservative and safe business decisions. The amount of CFOs who are ready to take financial risks is a great sign of the improving economy. Hopefully, the Affordable Health Care Act does not hold businesses back.”
CFO Consulting Services, LLC provides outsourced, part-time CFO services on an as-needed basis to both small and mid-sized businesses located in the NY metropolitan region. Founded by Long Island CPA and financial expert Lawrence Teicher, CFO Consulting Services follows four main principles: independence, objectivity, competence and confidentiality. These core values have led its clients to achieve lasting success in their businesses.