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South

How can NED's help SME's

05 Jul 2018


NED's, SME's

The ability to tap into expert knowledge or skills, or indeed contacts or access to certain sectors or markets were some of the benefits that were commented on, at a recent IoD event, and those who had experienced having a non-exec on their board were eager to say that the general level of governance and direction had improved by the addition of an “outside” director.

The IoD Buckinghamshire & Milton Keynes branch held a breakfast round-table meeting on the subject of Non-Executive Directors on 17th May at Hartwell House in Aylesbury.

This was an informal discussion with 3 tables of members and non-members sharing their views about NED’s, with a facilitator on each table who provided a summary at the end of the session. We posed 3 questions centred around the benefits NED’s can bring to a business, the legal responsibilities of NED’s, and how to become a NED.

Some attendees already held NED positions (myself included) and others were keen to take on a NED role for a variety of reasons. It was interesting to find that whereas in the past opinion has been that NED’s are for large public companies, attendees saw the benefits that NED’s can bring to SME’s and even to very small businesses. The ability to tap into expert knowledge or skills, or indeed contacts or access to certain sectors or markets were some of the benefits that were commented on and those who had experienced having a non-exec on their board were eager to say that the general level of governance and direction had improved by the addition of an “outside” director.

It seems to me that even in the fast moving and ever changing business environment in which we operate today, far from diminishing there is an increasing need for expert guidance and assistance from experienced professional directors in firms of all sizes and types.

This of course aligns strongly with the objectives and purpose of the IoD. Better governance, better directors, and ultimately better businesses as a result is central to our remit.


Allan Goodbrand
Chairman, IoD Buckinghamshire  & Milton Keynes



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