On The Right Track
Many more start-ups fail than succeed in today’s business environment. Consequently, the CFO’s role in such companies varies from that in a more established one. Specifically, it is about addressing a wide range of issues: capitalising the company whenever possible, mitigating risk at every stage, planning and forecasting with great rigour, and continuously enhancing the trust of investors. Sudesh Chinchewadi, CFO of Vistaar Financial Services and this year’s winner of IMA’s India CFO Award for ‘Excellence in Finance in a Start-up’ is a particularly fine example of how one can build a successful company from scratch.
Over the past three years, Mr Chinchewadi has proven that it is possible for start-ups to be about so much more than ‘cash burn’, and for a CFO to be pivotal to creating the foundation of long-term greatness for firms ‘just born’. He joined Vistaar – an onward lending firm focused on the MSME sector – at its inception, hand holding the tiny company through its key needs of funding at one end, and rapid expansion into India’s Tier II and III cities at the other. Whilst its potential is immense, Vistaar’s chosen area of operation – MSMEs in rural/semi-urban areas – is particularly vulnerable to economic volatility and talent shortages.Previous post Next post