Is good corporate governance really necessary for small start-ups?
Thousands of businesses, small, medium and large as well as profit and non-profit entities have relied on the expertise of the team at Kilgetty Statutory Services to provide outstanding support as one of the leading Company Secretarial Services firms in South Africa, trusting this team of professionals to maintain good corporate governance across a broad spectrum of industries.
No matter what size your business is or which industry you represent, good corporate governance is a must if you want to keep a firm hand on the course of your company to steer it into a successful future.
Good corporate governance and the necessity for it is often misunderstood, it is not a practice aimed solely at large publicly listed companies or multinationals, as a lot of entrepreneurs believe, nor is it a system that is too complex to implement. However, it is essential for any entrepreneur to have the expertise of a company like Kilgetty on hand to assist with implementing corporate governance right from the start of any business venture.
Good corporate governance defines the roles, authority and timing in key business decisions between shareholders, directors and the CEO, which lays the foundation for a highly organised future of success.
Laying the groundwork for good corporate governance manages complex decision-making, and although this process may be different from that of a large business, it is every bit as important for a start-up to start off well by putting everything in place for a healthy future.
If you have raised funding from either venture capital firms or from people who believe in the viability of your business, you will need to manage their interests in the structure of your shareholding, composition of your board and the role of the CEO.
Responsibilities, levels of authority and the timing of decision-making will need detailing as your business grows, which is going to mean that you are going to require active management of the interactions between these levels.
All of these decisions need to be based on a clear understanding of what it really takes to start off on the right foot, so that corporate governance does not fall by the wayside, which is a mistake many entrepreneurs make.
Kilgetty Statutory Services will not only assist you with the setting up of a good corporate governance plan right from the start, but, as your business grows, will continue to actively manage the interplay of these levels on a proactive basis that will leave you free to focus on the growth of your prosperity.
The team at Kilgetty will do all of this and more for your start-up, and in the process save you time and money while creating an environment of investor confidence that will take your business to the next level!