Corporate Governance – why is it essential for every business?

Good corporate governance is the foundation of a healthy organization irrespective of its size. SMEs and especially start-ups often overlook this key component that eventually leads to lack of structure, hinders efficiency and future growth.  

Corporate Governance gives organizations a clear vision and ensures business growth and continuity. To build an organization with a strong foundation and efficient operations, business owners must establish:  

  • Clear Company Vision
  • Roles & Responsibilities
  • Policies & Procedures
  • Authority Matrices
  • Communication Matrices
  • Clear Workflows

As an entity grows, it quickly encounters obligations to its investors, employees, and other stakeholders. Surveys indicate that one- third of newly established companies collapse in first few years due to lack of governance. 

Surveys indicate that one- third of newly established companies collapse in first few years due to lack of governance.

Good corporate governance will help organizations: 

  • In smooth & efficient functioning of the business
  • Define authority, rights and responsibilities between ownership, management & staff
  • Manage cash and improve performance
  • Improve internal controls and ensure business continuity
  • Help grow business by attracting new investors

Curia aims to support business owners in implementing best practices for their organizations. Our team of professionals have in-depth local experience and knowledge of corporate governance best practices and solutions to help build a strong foundation for your business.  

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Curia Insights

A collection of articles, trends and thoughts from our consultants at Curia. We strive to provide relevant content that will equip any business owner with information required to improve their business.

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