Governance is a word that is often thrown around by the family business advisory community and with good reason.
However, it is often taken for granted what we mean by ‘governance’ and so to kick off this series on that very subject I thought it would be useful to provide an overview of what governance is. Why it is useful, some of the common barriers to putting governance in place and then some tips on how to get started.
You can find details of the Wates Principles mentioned in the show here: https://www.frc.org.uk/getattachment/31dfb844-6d4b-4093-9bfe-19cee2c29cda/Wates-Corporate-Governance-Principles-for-LPC-Dec-2018.pdf
You can also access the brilliant report from the IFB Research Foundation here: https://www.ifb.org.uk/media/4133/governance-in-family-businesses-evidence-and-implications_web.pdf