Hiring Utah CFO services is not something that is going to come very cheaply, even when you have a small company. In most cases, these positions are accompanied by a six figure salary, regular raises that can easily exceed the company’s CEO, and the provisions for stock options, either when they are hired or in the future.
This is why it is not only understood, but also excusable, when a startup business launches without having named or hired a CFO. However, in the life of a corporation, Utah CFO services will be unavoidable. This is when it is time to call in the pros, and Cook Martin Poulson offers CFO services in Utah.
Knowing it is time to hire a CFO is essential, and some signs you need their services are highlighted here.
You are Paying a Lot of Taxes
There are only a handful of different legal structures that a small business can take, and a number of these come with a significant tax rate. If you are paying an excessive amount in taxes that is actually hurting your bottom line, then hiring Utah CFO services can be invaluable.
There are Significant Changes in the Financial Regulations or Accounting Standards
Due to the need for Congress to regulate the financial sector, there are a number of rules and regulations that can impact companies that are just being written and implemented. If you are unsure of what these are, then Utah CFO services can be truly invaluable. Not only can they help you understand what these regulations are, they can also ensure that your business complies with these regulations. This is essential for any business, no matter the size.
You are Considering Taking Your Business Public
In some sectors, with tech being the one that comes to mind, small businesses and companies can grow at a rapid rate. This may put them in the position to go public. If you are in this situation, then there is no question that you need the services of a CFO. However, what you may not realize is that the process can take a number of months, and may even take up to a year; which means it is a good idea to start the process long before you are anticipating the listing date. You should also ensure that the CFO you hire is experienced in taking private companies public.
Taking the time to realize the benefits offered by a CFO from Cook Martin Poulson will likely be extremely beneficial to your business. With the information here, you should also know, without a doubt, when you need to hire this person.
