Virtual CFO Services
Getting help from a virtual CFO can help your business get a fresh perspective on its financial situation. These specialists are experts in state and federal laws and have experience with multiple industries. They can help you analyze your financial statements, make sound business decisions, and develop an effective strategy for your company.
Whether you are looking to hire a virtual CFO to help you bridge the startup phase or you are looking to hire a full-time CFO to improve your business’s financials, it is important to know how much these services cost. Although their prices vary depending on the industry and the services they provide, most virtual CFO retainers range from about $5,000 to $7,500 per month.
A virtual CFO can provide valuable financial insight and has expertise to help your business grow. They can help you set up key metrics and key performance indicators, analyze financials and set up and implement ways to raise capital. They can provide bookkeeping, payroll, and financial reporting services. However, you should keep in mind that hiring a full-time CFO can cost $225,000 a year. These expenditures are not only for the CFO but also for bonuses, vacations, and other benefits. In addition, you may need to pay for a co-working space, a reliable Internet connection, and other work-from-home expenses depending on the contract and scope.