Bohemia, NY (PRWEB) December 21, 2013
Lawrence Teicher, founder of CFO Consulting Services, a leading part time CFO services company, responds to an article published by The Guardian, which explains the benefits of hiring a financial expert when starting a business.
According to The Guardian article titled “Why financial experts are like fertilizer to start-ups,” accountants should be involved in the early stages of a startup to ensure the company gets a head start on profitability. The early stages of a start-up are a make-or-break period. The article says business owners can either set their companies up for fast failure or long-term success. The earlier they get a handle of what is needed to succeed in the world of small business, the more likely they are to fit into the “long term success” category of successful business startups.
Financial experts, like accountants, know the obstacles that face small businesses, the article says. Today, accountants must be experts in multiple financial fields in order to play a number of roles in the early stages of business growth. These stages, listed as business planning, trading, finance function, and securing loans can be difficult for SMEs (small and medium enterprises) without a financial expert.
Lawrence Teicher, founder of CFO Consulting Services, a leading CFO services provider, says financial experts are vital to the success of business start-ups. “As many people know, a large percentage of small businesses fail before they ever become stable,” he says. “A big problem within some small businesses is a lack of financial expertise, which leads to closure. Financial experts, such as CFOs or accountants, bring this knowledge to the table and can be an indispensable asset for start-ups.”
Teicher believes that most SMEs think hiring a bookkeeper or bookkeeping firm is adequate. “In fact, bookkeepers cannot help a business owner develop the key ingredients to success – developing proper pricing models, obtaining financing and making prudent decisions regarding their capital allocation, for example.. An outsourced CFO can provide the expertise needed at very affordable prices. At CFO Consulting Services, we provide these expert services on an as needed basis, so businesses don't have to worry.”
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.