An enterprising Birmingham duo are celebrating the launch of a pioneering new service designed to help Midlands-based SMEs create sustainable business growth.
eVirtualFD is the UK’s first entirely cloud-based FD service, designed to give small and medium-sized businesses access to a ‘virtual’ financial director who can help them develop a deeper understanding of their company’s finances and build long-term growth.
Launched at Wolverhampton Business Show, eVirtualFD is the brainchild of accountant and financial director Lee Turner, owner of cloud-based accounting firm Titanium Accountants, and business partner Sian Lenegan, owner of thriving Birmingham creative agency, Sixth Story who are based in the Jewellery Quarter.
The idea for the service came about when Sian hired Titanium Accountants in 2014, and experienced first-hand the benefits of using a cloud-based accountant to drive growth in her business.
“In the UK, SMEs pay more than £7 billion in unnecessary tax every year, and a significant proportion of businesses fail before they reach the 10-year mark due to lack of cash flow and an unprofitable or unsustainable business model,” says Lee.
“The insight required to overcome these hurdles usually comes from having an experienced financial director on board, but most SMEs simply can’t justify that cost. We want to help more businesses grow successfully and sustainably, so eVirtual FD provides a more economical way for them to access expert insight and translate their figures into long-term growth.”
The 100% cloud-based service is provided through a team of experienced Financial Directors, and while the service is initially being offered to Midlands-based businesses in the West Midlands, the duo are keen to reach more SMEs across the UK by expanding eVirtualFD into a franchise model.
For more information, visit www.evirtualfd.com