The Role of a Part-Time FD: What You Need to Know
As your business grows, financial direction becomes a priority not optional. But hiring a full-time Finance Director (FD) isn’t always viable for SMEs managing cash flow, lean teams or adjusting to rapid growth. That’s where a part time FD comes in.
A financial director gives you the insight and leadership of an experienced Finance Director, without the long-term commitment or cost of a full-time hire. They work flexibly to provide senior-level expertise, strategic clarity and sharper financial controls tailored to your business needs.
What Types of Businesses Benefit Most from a Part Time FD?
Financial directors can be powerful asset for a wide range of SMEs, but some businesses gain even more from this model than others. Here’s where they make the biggest impact:
- Early-stage scaleups that need financial clarity before raising investment.
- Family-run companies transitioning ownership or formalising processes.
- Established SMEs facing growth plateaus or cost pressure.
- Service-based businesses managing multiple projects or high-volume clients.
- Businesses with lean internal finance teams that need senior leadership without the overhead.
If your company is navigating complexity without a clear financial strategy, a part time FD may be exactly what you need.
5 Real Signs You’ve Outgrown Basic Financial Support
There’s a tipping point where an accountant or bookkeeper just isn’t enough. If you’re experiencing any of these, a part time FD could be the solution:
- Profit remains flat despite increasing revenue: You’re selling more, but profit isn’t growing and you’re not sure why.
- You lean on your accountant for business advice: But they focus on tax and compliance, not long-term financial planning.
- Cash flow surprises still happen: Even if you use accounting software, money in the bank doesn’t match what you expected.
- Investor or bank questions feel intimidating: You’re preparing for funding but can’t confidently explain your numbers.
- Your team isn’t financially aligned: Department heads don’t understand their budgets or financial impact.
These signs show your business lacks strategic financial leadership.
What You Can Expect in the First 90 Days with a Part Time FD
When you bring in a part time FD, impact comes fast. These are the typical outcomes clients see in the first three months:
- Clear cash flow forecasting that helps you plan with clear visibility
- Simplified reports and dashboards that focus on the numbers that matter
- Insight into margin by product or service so you can make smarter pricing and resourcing decisions
- Support preparing for funding including forecasting, pitch deck development, and financial modelling
- Actionable recommendations that help you fix inefficiencies, reduce waste, or renegotiate supplier terms
You gain guidance that leads to action and greater clarity around growth planning.
Part Time FD vs Full-Time Hire: What Makes Sense?
Hiring a full-time Finance Director is a major step, and for many SMEs, it comes too soon. A part time FD gives you:
- Flexibility: Scale hours up or down depending on your needs
- Affordability: Pay for experience without the full-time cost
- Expertise: Immediate access to senior-level financial insight
- Focus: Strategic thinking that complements your accountant and team
You maintain senior financial support while making the investment work for your current needs.
How to Get the Most from a Part Time FD
The right part time FD integrates into your leadership team and earns your trust quickly. A good onboarding experience sets the tone for success. In the first few weeks, your FD should:
- Review your financials and business model
- Understand key stakeholder expectations
- Agree on how you'll measure success
Communication matters. Regular check-ins, shared dashboards, and clear ownership of tasks all help keep things on track. To make it work:
- Agree on clear expectations from the start
- Define key outcomes and business priorities
- Give them access to the right data and decision-makers
- Use them for both short-term fixes and long-term growth planning
The relationship works best when your FD thinks and acts like part of your team.
Your Next Step: Find the Right Fit
Not all FDs are the same. Look for someone who:
- Has experience working with businesses of your size
- Understands your industry challenges
- Can bring strategic thinking, not just technical skill
- Fits your culture and communicates well with your team
At Evoke Management, we specialise in connecting SMEs with part time FDs who get results quickly and work collaboratively. Our team members integrate smoothly, understand your priorities, and help you get in control of your numbers and your future.
Book a free 30-minute consultation to see how we can support your business.
Frequently Asked Questions
When should I outsource financial director?
When you’re facing financial complexity, planning for growth, or want better data for decisions but don’t need or can’t afford a full-time FD.
How many days a week does financial directors typically work?
Anywhere from one day a month to two days a week. It depends on your needs, stage of growth, and current team setup.
Can a fractional finance director help raise funding or manage investors?
Absolutely. They often play a critical role in preparing financial models, investor decks, and supporting due diligence.
Do I still need an accountant if I have a part time financial director?
Yes. Your accountant and part time FD serve different purposes. The FD focuses on financial direction and strategy; your accountant handles tax and compliance.
Is a part time financial director a short-term solution?
Not always. Many SMEs keep part time financial leadership in place for years, adjusting hours as they grow.
Can an outsourced FD help during a business restructure or turnaround?
Yes. Part time FDs often support businesses in times of change, such as during restructures, turnarounds or M&A events. They help stabilise operations, assess financial risk, and shape a sustainable plan forward.
Contact us today to speak with an experienced advisor about how outsourced FD could help your business grow with clarity and control.
