Specialist lender Optimum Finance has announced a collaboration with Tectona Partnership to broaden its business support offering and complement its range of services.
Tectona Partnership provides flexible and cost-effective finance director (FD) or chief financial officer (CFO) services for owner-managed SME businesses with a turnover of between £1 and £20 million, covering cash flow, financial management and control, and business and financial strategy.
Through the partnership, Optimum Finance’s clients now have access to an additional service alongside the tailored invoice finance solutions that the firm provides to facilitate business growth.
If a company requires regular financial direction to improve cash flow, financial strategy and control, systems and processes, Tectona Partnership offers a part-time FD service. It also provides interim FDs for businesses needing to cover an absence or vacancy, or looking for additional support to complete a special project.
Many of the 1.5 million SMEs forming the backbone of the UK economy will not yet be at the stage of their business growth to need or be able to afford a full-time FD and will rely on outsourcing their basic financial management, if they are not making do with a limited in-house finance function.
Commenting on the partnership, Mark Nicholls, managing director of Tectona Partnership, said: “Part-time finance directors provide small to medium-sized businesses with critical guidance across a full spectrum of financial issues, geared towards driving growth and delivering results.
“Our team of 15 commercial FDs is pleased to be partnering with Optimum Finance and offering clients a robust menu of services to help them focus on achieving their aims and doing what they do best.”
Optimum Finance CEO Richard Pepler said: “From improving profitability to building a company’s relationship with HMRC, utilising the services of a part-time financial director should be an absolute no-brainer for many small businesses with a growing finance department.
“We know what it takes to build a successful company and we are committed to supporting those we work with to reach and exceed their aspirations. That’s why we’ve teamed up with Tectona Partnership, to offer finance director services to our ambitious, growing client firms.
“Mark and the Tectona team are extremely knowledgeable and practiced in working with high-growth companies to make them robust and sustainable, and they are focused on delivering the solutions best suited to that business.”