Why would I need a corporate governance policy for my business? I only employ 13 people. Is it really necessary?
A corporate governance policy dictates how your company interacts with all of its stakeholders, including customers, suppliers, staff, the government….everyone that it has dealings with, in fact. It provides a framework of systems and processes for pretty much every aspect of your business.
The good news is that it will make your business more attractive to investors. But it also means that should a dispute arise, for example, you know exactly how to address it.
A corporate governance policy ensures accountability, fairness and transparency within a business – and it ensures continuity should the business lose a key staff member.