The FD Centre and FDUK, both of which will now trade as The FD Centre, will offer nearly 100 part-time directors and, combined, claim a market share of ‘around 20 per cent’.

All of FDUK’s part-time FDs have joined the merged organisation.

CEO Colin Mills says The FD Centre has now become the largest firm in the marketplace, adding that the economic downturn is increasing demand for part-time FDs.

Mills adds, ‘Our experience is that with the risk of failure increased, referrers see part-time financial expertise as more and more valuable as they seek watertight financial controls and business plans for their clients.’

The FD Centre was founded in 2001 and offers part-time support to companies that do not need or cannot afford to employ a full-time FD. Its team includes former FDs at companies including Dell, Mothercare and Tesco.

Related: Hiring a part-time financial director – A good idea? A useful business tool to assist your company’s growth.