Accountant and CFO for Maritime Businesses

Maritime Businesses

Giving you back time to grow the business

Whether you are a shipyard, a yacht manager, a charter broker, a supplier to the industry or a consultant to yacht owners on large capital refit or new build projects, it is likely that you need access to an experienced finance professional. Like many others, however, your business may not be of the size yet where it warrants a full time CFO.

How can engaging a Virtual CFO help your maritime business? With a Virtual CFO, you have an experienced finance professional and can tailor the services to the requirements of your business. This is far more cost-effective than employing a full time CFO or finance department.

If you are drawn into finances, cash flow and control, then a Virtual CFO will free time for you so that you can stop working in the business and start working on the business. Finally you can have the time to start focusing on your business strategy and growth.

As an experienced finance professional, we will have likely seen your challenges before and be able to implement a plan. As businesses grow, they need a more formal line of responsibility than as a start-up and a Virtual CFO is a flexible resource through which to transition through this growth phase and provide a solid foundation for when you require a full time CFO. Often, we become a sounding board to the CEO and can help with bringing accountability to the agreed growth plan.

The yachting industry needs to react quickly to the unique challenges it faces. The industry is catering to a new generation of owners and charterers where it needs to maintain its aspirational position to capture them. If businesses are to survive, they need to quickly adapt to an ever more complex world and engage the skillset to navigate this change.They need to meet extremely high expectations of excellent customer service as a minimum.

We are the Xero Cloud Accounting specialists in the maritime industry.

We can help you alleviate your bookkeeping burdens cost-effectively. We can help you get real-time data so that you can identify opportunities, make the right investments, and grow your business. Every business can benefit from dedicated management expertise, but very few small businesses have the means to hire someone full time – and that’s where we come in.

We are the Xero Cloud Accounting specialists in the maritime industry. This means that we are perfectly positioned to help you streamline your accounting process and you get to also benefit from a fully-functioning virtual finance department complete with the services of a virtual CFO. Using cloud accounting, we can help you generate real-time data that will enable you to have full confidence in your financial reports, make key high-level decisions, manage risk, raise your business capital, and facilitate growth and change.

Now, you’re most likely not of the size where you need to pay for a full-time CFO, so why do you need a virtual CFO? To put it simply, a virtual CFO:

  • Is a far more affordable option
  • You get top-level advice as and when you need it
  • They help you to establish good habits with managing financial resources from the get-go
  • They offer incredible value focused on growth and long-term success.

Working with a team of accountants, bookkeepers and a virtual CFO can help you better manage the most important aspect of your business for ongoing growth.

We have extensive experience of operating virtual finance departments for clients in the maritime industry, so whatever your requirements, we can create a bespoke package that suits your needs and budget.

Packages and Pricing

Packages

Di Capri
from £2,350/month

Ibiza
from £1500/month

Hercule
from £1,000/month

Standard financial operating procedures

Operating budget

Operational cashflow requests

Prepaid cards reconciliation

Quarterly standard management information

Quarterly meeting (virtual) with captain/purser

Monthly management information

Forecasts

Monthly meetings (virtual) with captain/purser

Bespoke management information

Unlimited meetings (virtual) with captain/purser

Yacht Sale/Purchase

Yacht ownership review

Virtual CFO/Finance department

from £3000/month

Addon Packages

Bookkeeping

Employment

Payroll

from £100/month

(based on 100 sales/purchase transactions)

from £250/crew

from £60/month

(per crew member)

Safety Management System

Value Added Tax (VAT) Services

Charter and APA Administration

from £500/month

Setup £250/month extra for max 3 months

from £200/month

from £200/month

Software subscription services

Bookkeeping/Accounting/Yacht and Safety Management

invoice at standard subscription rates of software provider