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  1. Spotlight on Policy
7 November 2019updated 09 Sep 2021 3:59pm

Introducing the virtual CFO

Demystifying the search for small business funding will be key to the success of UK plc.

By Andrea Reynolds

Time is money. No truer is this adage than for small businesses and sole traders. And against the backdrop of widespread digitisation, with more and more businesses and services making the move online, companies of all sizes are facing a pressure to adapt. But the idea that each and every company should employ a chief financial officer charged with securing and managing cash flow, so that the rest of their employees can focus on modernising products, or sourcing new customers, is a bit unrealistic, isn’t it?

Swoop, a cloud-based digital platform designed to identify, filter, cross-compare and complete various aspects of a company’s operation, aims to give small businesses more control over their finances. Think of it as a sort of virtual CFO – one that doesn’t require the hefty yearly salary to employ.

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