Creative Partners, an accounting and tax office for startups and creators (CEO Kim Yong-hyun), announced the official launch of a startup-tailored Chief Financial Officer (CFO) outsourcing service.
The CFO outsourcing service is designed for startups that feel burdened by the salary of a full-time CFO or find it difficult to hire a suitable candidate. It features a dedicated accountant and tax accountant providing high-level financial services on a part-time basis.
New startups, which are experiencing everything for the first time, need guidance throughout the overall management process, not just simple accounting and tax tasks. Unlike general companies, startups face differences in business models and shareholder composition, leading to various issues from the start of the business, such as capital-related issues due to investment attraction, initial accounting setup issues like stock option grants and recognition of gross and net sales, and equity adjustment issues with co-founders or early team members.
Currently, six startups are receiving Creative Partners’ CFO outsourcing service, and the company reported that customer satisfaction is quite high, with an average contract period exceeding two years. The aspect that customers find most satisfying is the support for subsidy application, where the company identifies the client’s industry, various certification statuses, and IP holdings to search for applicable government and private subsidies tailored to the client, handling the application and post-management on their behalf.
Subsidy application support is crucial for startups with tight initial funding, but it requires significant time and effort for application and management, making it a challenging task for most startup CEOs. Through subsidy agency services, Creative Partners helps ensure that key early personnel and management are not wasted, in line with the company’s motto, "You Create, We Support."
Additionally, Creative Partners has established partnerships with policy financial institutions such as the Korea Technology Finance Corporation to help clients secure funding under optimal conditions. Notably, CEO Kim Yong-hyun is registered as a professional individual investor with the Ministry of SMEs and Startups, a group of fewer than 200 people nationwide, and is registered as a Kibo Angel Partner, actively collaborating with the Korea Technology Finance Corporation.
Recently, the company has been registered as an export voucher executing agency and an accounting consulting partner of the Born2Global Centre. Companies benefiting from these subsidies can minimize the cost burden of accounting and tax services without financial strain.
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