FDs vital to tech success

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Technology start-ups that have a finance director are more likely to succeed than rivals without an FD, according to research.

Research into 100 successful technology, media and telecommunications (TMT) start-up, and 50  unsuccessful ones by accounting firm CBW found that finance directors helped boost sales"using less cash but operating at lower margins". 

FDs also help businesses to sell equity to further boost growth, and an FD allows a TMT start-up's management to "put its foot down hard on the growth accelerator," the research found.

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Ditto !

Great results from what seems like a pretty good sample size and endorses what we've been saying as our mantra for a few years now ...."young businesses that have a full time or part time FD grow bigger, stronger and faster, and have an increased chance of success, than those that have no FD at all".

At My Business FD,  our experience helping tech companies grow, access funding, scale, prepare for and secure their exit mirrors these findings, so we fully support the survey.

Chris Chapman

www.mybusinessfd.com

 

 

 

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