Small and medium enterprises (SMEs)share distinctive challenges that require specificgovernance practices. This guidebook presents a tailoredgovernance framework with structures, policies, andpractices that mitigate the risks and support sustainablegrowth of business while recognizing the resourceconstraints typical of SMEs. The objective of this guidebookis to help SME entrepreneurs and their investors develop ahighly tailored governance improvement plan to supportsustainable growth of their companies. The SME governancemethodology in this guidebook represents a governanceinnovation by tailoring specific recommendations to theevolutionary stages of SME growth: stage one: start-up;stage two: active growth; stage three: organizationaldevelopment; and stage four: business expansion. Thisguidebook provides an international perspective - focusingon characteristics that are common to small and midsizebusinesses in many different countries. Guidebook isstructured as follows: chapter one, SME governance: what isit? why is it important? explains what corporate governanceis and how it differs for SMEs. Chapter two, SME governanceframework defines the stages of growth for SMEs as well asgovernance-related risks and opportunities associated witheach stage. Chapter three, key governance topics and leadingpractices takes a deep dive into select governance conceptsand practices for each of the five governance topics.Appendix, SME governance action planning tool distills thekey recommendations of the SME guidebook and presents themin the form of worksheets to help identify high-priorityactions appropriate to your SME’s stage of growth.
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