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.
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.