There are points in almost everyone's life when a little bit of specialist advice is just what's needed - and never is this more true than when your business is in need of help.

This could be for a number of reasons - It could be that your company is facing problems, for example, rising sales could be causing problems with cash flow. Or perhaps you want support in emerging from a particularly difficult time in the company's operations. Alternatively, you might be approaching a transaction of some kind - whether that be a merger or acquisition, or fundraising activity.

Because financial directors fully understands the commercial implications of the financial data put in front of them, they can look at the business objectively and work out where you should be channelling resources to get the maximum return. This will not only give the owner the confidence to make better decisions (and faster), but the expertise of a financial director is invaluable in presenting the facts and figures to the board - indeed, the same goes for presenting to the bank should fundraising be required, and the presence of an experienced financial director can really reassure investors.

An FD is not simply the gatekeeper of the purse strings, or, as some might think, a glorified management accountant or bookkeeper. Instead he or she is a strategic financial expert who has the skills and experience to ensure the fulfilment of commercial objectives. Another myth is that a financial director has to be a permanent, full-time member of staff. This simply is not true, and means that having access the skills and expertise of an FD might not be as expensive as you may think. In fact, a financial director can be very cost-effective - or even save you money!

If you don't need support on this intensive basis and simply cannot justify the cost of a full-time FD - all these skills and experience unsurprisingly comes at a cost - why not consider a 'virtual financial director', or put more simply - a consultant financial director?

Working a set number of days for an agreed daily rate, top-flight FDs can bring a wealth of specialised expertise to your boardroom table for a fee that you can afford. The best way to source one would be to speak to your accountant initially to see if they would be able to fulfil this role - after all, who knows your accounts better than your accountants? Otherwise, use contacts to recommend financial directors that they know, or turn to an interim FD through a recruitment platform. Remember, having a consultant FD means that the emphasis is on them to provide you with an excellent service, otherwise you can easily replace them with an FD that performs better.

Gary is the Business Development director of CBHC. He has a background in industry and commerce, having qualified in a large PLC in the food industry. Gary also owned a successful accounting practice for 10 years before becoming a partner in CBHC, making him ideally placed to help other company owners achieve success in running theirs.

Genuinely passionate about helping companies grow, Gary specialises in developing and implementing successful strategies which improve long term profitability and is an expert in cash flow forecasting and management accounting. He is also heavily involved in speaking to new clients, and is constantly implementing new ideas that will improve the quality of CBHC's service portfolio.