"SMEs often view finance as a back-office necessity. Yet for companies aiming to scale sustainably, a strategic finance function is one of the most powerful enablers of growth. Drawing on extensive experience in working with organisations at every stage of maturity, Richard Davis, CEO of FNLY - experts in making finance finally easy - provides insight into the most common financial pitfalls SMEs face, the practices that lead to cashflow strain, and the KPIs that truly move the needle."
"Thinking that the person who was right to run the books at the beginning and finance is the right person as you grow. Too often people are overpromoted as they are 'great company' people but aren't then qualified for the future. Finance needs to evolve with the business. Not thinking strategically enough from the outset and only considering finance as the money team. It should be the team to help with strategy and growth."
Finance is often treated as a back-office necessity rather than a strategic growth enabler. A finance function must evolve as the business grows rather than rely on the initial bookkeeper or early hire. Finance should be integrated into strategy and growth planning, not confined to transactional tasks. Excessive control by a risk-averse finance leader can stifle expansion, though a measured, scaffold-like approach can enable controlled growth. Cash in the bank is not a sole indicator of business health; owners must monitor receivables, payables, and broader P&L drivers to anticipate cashflow issues.
Read at London Business News | Londonlovesbusiness.com
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