19 November 2025
Running a growing business is exciting. New clients, expanding teams, and bigger opportunities can make every quarter feel like a leap forward. But alongside growth comes complexity, especially when it comes to managing your finances. Suddenly, bookkeeping and basic reporting aren’t enough. You need strategic insight: someone who can help you forecast, prepare for investment, optimise cash flow, and position the business for the future.
That’s where many leaders decide to hire a fractional CFO.
This guide will walk you through exactly what a fractional CFO is, when hiring one makes sense, and how to make the right decision for your business. Along the way, we’ll also highlight how experienced leaders, like Summit’s Managing Director, Craig, who has spent more than two decades guiding high-growth companies, approach this role in practice.
A Fractional CFO (also known as a part-time CFO or outsourced CFO) is a senior finance leader who provides CFO-level expertise without the cost of a full-time hire. Instead of being on your payroll five days a week, they work with you on a flexible basis, often a set number of days per month, or tied to specific projects.
Unlike an accountant, when you hire a fractional CFO, you’re getting access to forward-looking financial leadership. They help with:
Think of it this way: your accountant looks in the rear-view mirror and tells you where you’ve been. A fractional CFO sits in the passenger seat, helping you read the map, navigate roadblocks, and make confident decisions about where you’re going next.
For many founders and directors, a full-time CFO feels out of reach until the business hits a certain size. Salaries for permanent CFOs often run into six figures, and adding that kind of overhead isn’t always realistic.
That’s why growing companies often choose to hire a fractional CFO instead. The advantages include:
In short, a fractional CFO gives you the benefits of big-business financial leadership without the big-business overhead.
For example, a SaaS company preparing for Series A funding may not need (or be able to afford) a full-time CFO yet. By choosing to hire a fractional CFO, they can get investor-ready financial modelling and fundraising support without overburdening their budget.
Not every business needs a CFO right away. But if you recognise yourself in these scenarios, it might be the right time to hire a fractional CFO:
If you’re constantly worrying about whether you’ll make payroll, delaying supplier payments, or unsure how much cash you’ll have in six months, you need someone to get control of your cash flow.
A fractional CFO can build forecasting models, improve working capital cycles, and set up processes that ensure you always know your runway. Many businesses choose to hire a fractional CFO specifically to solve cash flow pain points.
Growth requires clarity. Whether you’re expanding into new markets, launching products, or seeking investment, you’ll need robust forecasts, clear KPIs, and evidence of sustainable margins.
When you hire a fractional CFO, they can prepare financial models, support due diligence, and give investors confidence that your business is built on strong foundations.
Maybe you already have an in-house bookkeeper or finance manager. They keep the numbers in order, but they may not have the senior-level perspective needed for strategic decisions like acquisitions, restructuring, or debt financing.
This is where many businesses realise it’s time to hire a fractional CFO. someone who can lead strategy while empowering the existing team.
Knowing you need to hire a fractional CFO is one thing. Actually finding the right fit is another. Here’s a roadmap to help you make the best choice:
Before you start searching, be clear about what you want. Are you hiring to get investment-ready? To stabilise cash flow? To prepare for an acquisition?
When you hire a fractional CFO, clarity on your goals will help you choose someone with the right approach and expertise.
There are several routes to finding a good match:
Most leaders who hire a fractional CFO do so through a referral, as it’s often the quickest way to find someone with proven credibility.
When you’re assessing whether a CFO is the right fit, focus less on technical knowledge (that’s expected) and more on how they’ll add value. Examples include:
These kinds of conversations reveal whether someone can act as a true partner, not just a numbers person.
Even with the right intentions, businesses sometimes misstep. Common mistakes include:
Being mindful of these pitfalls ensures you make the most of the decision to hire a fractional CFO.
It’s natural to wonder if you should hire a fractional CFO as a stepping stone, or go straight to a full-time hire. The answer depends on your stage of growth:
Fractional CFOs are also a strong option in larger companies where specific projects need attention. This could include turnaround situations, divisional strategy, transformation programmes, or merger and acquisition integration. CFOs have the ability to take a holistic view across multiple divisions, something Summit has delivered for companies with turnover above £500m.
Some businesses work with a fractional CFO for years, scaling support as they grow. Others see it as a bridge to their first permanent CFO hire.
At Summit Accounting & Consulting, our approach to fractional CFO services is shaped by real-world experience at the sharp end of business growth. Leading the way is our Managing Director, Craig, who has spent over 20 years working inside high-growth technology companies around the world.
Craig has guided organisations through organic expansion and acquisitions, and he brings board-level insight that goes far beyond spreadsheets. He also supports international companies looking to establish operations in the UK, helping them build strong financial foundations from day one.
Over the last 20 years, Craig has advised companies on:
Many leaders choose to hire a fractional CFO like Craig because he doesn’t just provide advice, he rolls up his sleeves and makes things happen.
In Craig’s words:
“I don’t leave clients hanging, I take care of everything and make ‘it’ happen. I’ll push you, and I want you to push me. I’m progressive, forward-thinking and will get ‘it’ done.”
Ultimately, the decision isn’t whether you could benefit, but whether now is the right moment to hire a fractional CFO. If your business is growing, preparing for investment, or facing financial complexity, the answer is often yes.
At Summit Accounting & Consulting, we specialise in helping businesses at this exact stage. We don’t just crunch numbers, we work alongside you to build strategies, strengthen decision-making, and prepare for the future.
If you’d like to explore whether a fractional CFO is right for your business, book a discovery call with us here.
How much does it cost to hire a fractional CFO?
Costs vary depending on scope, but most businesses spend between £2,000–£10,000 per month. That’s significantly less than the six-figure salary of a full-time CFO.
When is the right time to hire a fractional CFO?
If you’re planning for rapid growth, raising investment, or struggling with cash flow, it’s a strong signal. Many businesses choose to hire one once turnover passes £1m.
Can small businesses hire a fractional CFO?
Yes. In fact, small businesses often benefit the most, as they gain big-company expertise without big-company overhead.
Is hiring a fractional CFO a long-term or short-term solution?
Both. Some companies hire one for a specific project (like fundraising), while others keep fractional support for years as they scale.
Choosing to hire a fractional CFO is often the turning point for a business that’s outgrowing its early foundations. With the right partner, you gain not just financial expertise, but the confidence to pursue bigger opportunities, secure investment, and scale sustainably.
And if you want a real-world example, Summit’s Managing Director Craig has been helping high-growth businesses do exactly that for over two decades.
Get in touch with us today to see if Craig and our team could be the right solution to your financial growing pains.
