Businesses that follow good corporate governance principles are not only concerned with making a quick profit, they are also interested in their longevity and the social and environmental impact they have. Purpose-Driven!
Corporate governance is as vital to SMEs as it is for large corporations and the implementation of cost-effective and efficient mechanisms will establish structure, improve operations, contribute to business growth and ensure effective compliance with the law
What is Corporate Governance?
Rules and practices that determine what a business and its various stakeholders can and cannot do. These rules determine who controls what, and how controls are exercised. The goal of corporate governance is to ensure that individuals act with integrity and in the best interest of the business and its various stakeholders.
In South Africa, corporate governance is guided by the King Committee, and the King Report is updated every few years, as required, and the latest update is called, the King IV Report.
SMEs can use the key recommendations of King IV to improve their chances of success and their overall ethical conduct.
From our perspective, this package aims to up-skill entrepreneurs about how to develop a healthy corporate governance system and, by so doing, will integrate good business practice and, ultimately, good governance principles, into their growing business.