Corporate governance for smes

  • What is the full form of SME in corporate governance?

    SME stands for small and medium-sized enterprises.
    These are enterprises that have less than a specific level of investment and turnover.
    SMEs include both manufacturing and service businesses.
    The government categorises them based on a combination of annual turnover and equipment investment..

  • Why is corporate governance important to SMEs?

    For owner-managed SMEs it reduces the potential for internal conflicts and lets management focus on achieving the company's growth strategy and profitability.
    Forward planning - a properly constituted board that holds regular meetings to discuss the company's long term strategy is vital for SMEs..

Available research demonstrates that better corporate governance of SMEs is positively linked to their growth and long term sustainability. Better governance 
We need to help SMEs grow into governance organically by offering solutions that are fit for purpose as the company evolves from start-up to mature business.

Do SMEs need corporate governance?

For instance, where there are family shareholders who are not actively involved in running the business, some mechanisms may be required to protect their interests.
In general, however, for SMEs, corporate governance is mainly about improving business efficiency and performance, and less about monitoring the actions of management.

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How can international organisations help SMEs achieve better regulated economies?

Such constraints need to be understood by businesses and institutions in better-regulated economies.
International organisations, including:

  • the IFC and ACCA
  • can have an impact through supporting research and understanding of the challenges and benefits of achieving improved standards and greater corporate governance adoption in SMEs.
    • ,

    What is good corporate governance?

    With a public company, even a small one, good corporate governance means the board is providing that independent perspective as well as oversight to make sure that the interests of shareholders and the stakeholders more broadly are being appropriately balanced with the day-to-day actions and judgments of the management team.

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    What is the SME governance action planning tool?

    Appendix, SME governance action planning tool distills the key recommendations of the SME guidebook and presents them in the form of worksheets to help identify high-priority actions appropriate to your SME’s stage of growth.


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