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Guides · 12 October 2026

When should a growing business bring in a fractional CFO?

Your bookkeeper records what happened. Your accountant makes sure it’s reported properly. A fractional CFO helps you decide what happens next.

What a fractional CFO actually is

A chief financial officer is the person in a larger business who owns the money questions: cash flow, funding, pricing, big purchases and how the numbers line up with the plan. Most businesses under $2M can’t justify a full-time CFO salary. A fractional CFO does the same kind of thinking for a few hours a month, or when a big decision comes up.

It’s not a replacement for your bookkeeper or accountant. Think of it as three layers:

  • Bookkeeper: records the transactions and keeps the software current.
  • Accountant or registered tax agent: prepares and lodges returns and makes sure tax obligations are met. In Australia, tax agent services for a fee have to be provided by a registered tax or BAS agent.
  • Fractional CFO: uses those numbers to help you plan, ask the bank for the right thing, and make the next decision with your eyes open.

Seven signs you might be ready

  1. Your phone rings all day with things to fix, and the money questions keep landing on you at 9pm.
  2. Profit is up but cash is tight. You’re busier than ever and still nervous about BAS.
  3. You’re making a big call: a second location, a new hire, a vehicle or equipment purchase, a loan.
  4. The bank wants numbers you don’t have, like a cash flow forecast or management accounts.
  5. Your advisers don’t talk to each other. The lender is waiting on the accountant, who’s waiting on you.
  6. You only see your numbers once a year, at tax time, when it’s too late to change them.
  7. You’re thinking about structure or a sale one day, and want to make sure today’s decisions don’t close doors later.

None of these mean something is wrong. Most of them mean the business has grown faster than the back office around it, which is a normal stage for a business between half a million and two million a year.

What it usually looks like

  • A monthly or quarterly check-in on profit, cash and what’s coming up.
  • A simple cash flow forecast so tax and BAS bills are planned, not surprises.
  • A yearly planning conversation before 30 June about which small business concessions might apply.
  • Help preparing for the bank, a big purchase or a new hire.
  • One person who keeps the accountant, lender, lawyer and broker heading the same way.

What it doesn’t do

A fractional CFO isn’t a magic fix, and it isn’t personal financial product advice. They won’t pick investments for you or promise a particular result. What they can do is make sure the decisions you’re already making are based on current numbers, and that the people you already pay are working together. For a lot of owners, the biggest change is simply having someone to ring before a decision, instead of after it.

Questions to ask anyone offering it

  1. Who actually prepares and lodges my tax return, and are they a registered tax agent?
  2. How often will we meet, and what will I get each time?
  3. How is the fee worked out, and what isn’t included?
  4. Will you work with my existing accountant, or replace them?
  5. Do you receive commissions from anyone you might refer me to?

How PRM does it

At PRM, Shay works as a corporate fractional CFO. For owners around $500k to $2M, PRM Rising pairs that with a dedicated team led by Tereza Pepping, who prepares your business return, lodged through our registered tax agent, Australian Tax & Super Pty Ltd. The idea is simple: you hand over the fix-it list, and we help sort it.

Start with the free business tax health check, then join the PRM Rising waitlist or book a 15-minute call. We take on a small number of new businesses each month.

Where does your business sit?

Take the free 2-minute business tax health check, then join the PRM Rising waitlist or book a call with Shay.

Take the health checkJoin the waitlist

Sources

General information only. This doesn’t take your circumstances into account and isn’t tax, financial or legal advice. Talk to your accountant or registered tax agent before acting. PRM is not a registered tax agent; tax agent services are provided by Australian Tax & Super Pty Ltd (TPB 25291395).