We are often told that family businesses neglect their governance. There may be a number of reasons for this.
It can feel like an unnecessary burden and an inconvenience, you have businesses to run so being told that you need to put more governance in place is not welcome at the best of times!
However, consider shifting the focus away from seeing it as a burden and instead use it as a platform for future growth and success.
Research from Campden Wealth highlights the fact that growing family businesses need to formalise their corporate governance to sustain long term growth.
“Well-structured corporate governance can help these businesses in identifying possible disruptors which will ensure they can continue to grow for generations.”