Every business should have a board. If you want to scale up and make the business more investable, you should consider forming a strong board with a diverse range of skills. Non-executive directors (NEDs) and Chairs can bring balance to the board and add a great deal of value to any business, from start-ups to large corporations. At GJC we have an exceptional team that can offer you just that.
1. A fresh and impartial perspective
One of the main advantages is that they’re truly independent. The perspective they provide is therefore not biased or clouded by company politics or career ambitions. They act in the best interests of the business and won’t be afraid to constructively challenge you.
As an entrepreneur, you’re also probably familiar with being pulled in all directions and having to tackle several business issues at once. It can be difficult when you’re caught up in the day-to-day activities of the company to take a step back and question how the business is currently run. NED/Chairs are distanced from these operational activities, they’re well placed to focus on high-level strategy and to identify any risks or opportunities.
NEDs/Chairs will have built up an extensive network of contacts over the years. They can introduce you to people you otherwise wouldn’t have access to – new customers, business partners, suppliers, team members, or investors, for instance – which can accelerate your business’ growth.
3. Commercial experience
A good NED is an experienced business person with a proven track record of success. They’re often entrepreneurs or former entrepreneurs, so they’ll have amassed years of commercial experience.
It’s quite common for businesses to look for non-executive directors who have particular expertise in a specific business area, or experience in an industry that the business is targeting. However, NEDs should have a breadth of expertise and be able to make a contribution across all business areas, not just one.
NEDs are responsible for holding the entire board to account. They help with the business’ performance and strategy, and ensure that the board is operating effectively and acting in the best interests of the company and stakeholders, including shareholders.
5. Fundraising opportunities and expertise
NEDs/Chairs may make it easier for you to find and secure investment as they’ll often have investors in their network that they can provide access to. Not only that, potential investors will see a strong board as a considerable asset, and will generally equate a higher proportion of independent directors with a more effective board. Non-executive directors also tend to have financial acumen and experience which can instil an investor with greater confidence in their investment.
What we do
- Offer a fresh and impartial perspective
- Provide contacts in the right areas
- Bring commercial experience
- Ensure the board are operating properly
- Provide fundraising opportunities and expertise
“We’ve worked with GJC over the past couple of years on creating a group structure for growth. So far, we’ve completed two acquisitions and nearly doubled our revenue.”