EFFECTIVE GOVERNANCE IS THE KEY TO YOUR SUCCESS

A simple way to strengthen leadership, reduce risk, and prepare your business for growth - without bureaucracy

Many SME owners believe corporate governance is something that only applies to large, listed companies with boards full of non-executive directors and layers of compliance. Others may be aware of the Corporate Governance Code but assume it is irrelevant, burdensome, or simply “not for us”.

In reality, the principles behind the Corporate Governance Code are highly relevant to SMEs – and, when applied appropriately, can become a powerful tool for growth, resilience, and long-term success.

Corporate Governance Is About Better Decisions, Not Bureaucracy

At its core, the Corporate Governance Code is not about box-ticking. It is about:

• Clear leadership and accountability

• Effective decision-making

• Risk awareness and control

• Transparency and integrity

• Sustainable, long-term value creation

These are exactly the challenges SMEs face every day – often without formal structures to support them. Good governance is not about compliance for SMEs. It is about running the business well.

For many SMEs, a more relevant and practical framework is the Wates Corporate Governance Principles for Large Private Companies. Although formally aimed at large private companies, the Wates Principles are highly applicable to SMEs because they are:

• Principles-based rather than prescriptive

• Flexible and proportionate

• Focused on long-term success rather than compliance

In short, they reflect the real-world challenges faced by growing UK businesses.

For SMEs, governance should be scaled and sensible, not complex or expensive.

To get a copy of our checklist of practical questions every SME leadership team should be asking contact us and I’ll send it to you.