Governance and startups: the ‘but it’s my business’ problem

In my last column, I discussed the key differences between a craft and an enterprise and explained why an SMME can only become truly sustainable once it becomes an enterprise. The successful transition from craft to enterprise requires the implementation of an effective governance process in your business.

While many SMME owners claim to understand this concept, they are often reluctant to make this transition in their own business. But why are SMME owners so hesitant to implement the changes that will ultimately make their business more profitable and sustainable?

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