To many small and medium business owners, even the word ‘governance’ sounds scary and Victorian. However, despite popular opinion, the value the governance process adds to even the smallest of enterprises is fundamentally misunderstood.
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Business owners often go into their particular business because they are passionate about it. They may know anything from a little to a lot about actually running a business, the particular industry they are entering and the roles that will be required. Among this group of business owners, governance is not a word used frequently. Nor is a formal governance structure a consideration for these companies. Generally, this is because the term governance is misunderstood – if indeed the SMME owner is even aware that it exists.
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