FDUK merge with the FD Centre, the largest provider of part time FD’s in the UK – September 2008
FDUK merge with the FD Centre, the largest provider of part time FD’s in the UK – 22nd September 2008
FDUK has merged with The FD Centre, the UK’s leading provider of part-time finance directors (FDs).
The FD Centre is the UK’s leading provider of part-time finance directors (FDs). Both firms will now trade as the FD Centre and all of FDUK’s team of associates have joined the FD Centre.
Effects of the Merger
The merger is not only good news for entrepreneurs, banks and professional advisors, but also for FDUK making them part of the largest provider of FDs nationwide.
Following the merger, the FD Centre now offers nearly 100 part-time FDs. The merger will mean that clients of both firms will benefit from a broader range of skills, with FDs serving every region of the UK and holding experience in most industry sectors.
James Benson, former managing director of FDUK added:
“We certainly see this merger as a positive step for our clients. The deal means that clients will now have access to an even larger pool of talented FDs, enabling work to be referred within the team to utilise the appropriate skills to meet most challenges business owners face.”
An experienced and commercially minded FD in a business that is fast growing is essential for it to fulfil its profit potential and avoid the common pitfalls of “risky” growth, “busy fools”, over trading, poor strategic direction and weak financial planning. Many business owners now need the skills of an FD but simply don’t want to spend the money on someone full time. A part time FD with all the skill and experience required is an ideal solution on both counts.
Commenting on the merger, the FD Centre’s CEO, Colin Mills, said:
“The merger with FDUK is an important move as, it will give smaller businesses throughout the UK access to a team of experienced part-time FDs with expertise covering just about every financial situation and sector. It’s also a milestone for the part-time FD industry, establishing one clear market leader.”
“Given the current economic climate, this is a good time for the FD Centre to be expanding. Just last week, the British Banking Association published figures showing that smaller companies are continuing to borrow money. Clearly therefore, these companies are still making important financial decisions. Our experience is that with the risk of failure increased, financial skills and experience in the management team is more and more valuable as companies seek watertight financial controls and business plans.”
Banks and Professionals
The banking community is already seeing the benefits of referring a part time FD.
Commenting on the growth of the part-time FD market, Barry Spicer of HSBC said:
“There are real benefits to the banking community of recommending a part-time FD to clients. A good FD on the management team provides a specific set of skills that are often not present for many entrepreneurs who do not have a conventional financial background.
“The clients benefit from more robust business plans and financial controls, and in turn the banks can loan to a business with a lower risk profile, better control and a more focused direction.”
Public and Private larger organisations
It is not only the smaller business that is served by The FD Centre. A significant and rapidly growing proportion of business comes from Group FDs of larger public and private companies who need an extra resource for specific projects or simply to be the part time FD of a smaller subsidiary.
Colin Mills, CEO of the FD Centre concluded:
‘The FD Centre offers a very powerful resource nationwide on a flexible and affordable basis. Our FDs are not only sector specialists but experts in finance. We now provide FDs to all sizes of business throughout the UK’
For more information about the recent merger or part time FDs please contact your FDUK contact on their usual number or email [email protected]
For more information about the FD Centre click here.