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The Benefits of a Board

The Benefits of a Board

A board of directors will help you build leadership skills and take a more strategic and well-rounded view of business. If you’re in growth mode, or you have plans to grow, a good governance team will help your business reach its potential.

Whether you choose an advisory board or a formal board of directors, you’ll benefit from a team of experts with a vested interested in your success.

Deciding if a board is right for you

There are no hard and fast rules on when you should get a board together.

Setting up a board might be a good idea when you:

  • need skills and expertise you lack internally
  • grow rapidly
  • have made a major acquisition
  • go through a large restructure
  • start succession planning or putting together an exit strategy
  • are a start-up with lots of shareholders and investment capital.

Benefits of a board

Many business owners worry they’ll lose control of their business if they set up a board.

But if you put careful thought and consideration into forming a governance team, you’ll find your board will empower you to make better, more informed decisions — and support you to see your plans through.

Good governance can help you:

  • drive your business forward
  • avoid risks
  • seek new opportunities
  • grow your leadership skills
  • get an objective analysis of your business
  • develop a strategic direction
  • get independent thinking in a family-run business
  • connect with new networks.

Join us at the Governance 101 workshop on the 18th October to learn more about how a board might help your business to grow.


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