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Corporate governance refers to the ways in which companies (of all sizes) are directed. According to the government’s February 2015 statistics, there are over 3.17 million active companies in the UK (3.44 million total), and the majority of them are not listed on any stock markets.
The Institute of Directors (IoD), which sets the standards for boards of directors in the UK, has outlined 14 principles for good corporate governance of unlisted UK companies. The first nine principles are applicable to all unlisted UK companies, while the subsequent five are applicable only to larger or more complex unlisted UK companies.
According to the IoD, most unlisted UK companies are SMEs and other small start-ups which remain under the control of the founder or the founding family. The IoD says companies of this sort are “at the heart of the UK economy”, so it is crucial that they receive guidance to ensure that they are run correctly.
Business Advice and Services from Experienced Lawyers
The specialist team at Slater Heelis has years of experience in providing corporate governance and best practice advice to companies of all types and sizes. If you need advice on any corporate governance matters, we can provide it.
If you’re in the initial stages of setting up your company, we can help you with hugely important decisions – such as your governance framework, and who you appoint as external directors on your board.
Our Corporate Commercial team also advises on matters such as mergers and acquisitions, private equity, refinancing, IT, intellectual property, and many more.
Contact our Corporate Team Today
Call us on 0161 969 3131 to speak directly with a solicitor, or fill in our contact form and we’ll get back to you quickly.