Beside from the development of a more effective leadership structure, SMEs can derive other significant benefits from good corporate governance measures. These include:
- Added credibility and enhanced reputation.
- Better management of cash flow and adequate cash forecasting.
- Access to capital and loans on better terms.
- The ability to attract talent for employment and improved succession planning.
- Improved access to customers and market share.
- Better positioning to capture business opportunities.
- Better fraud prevention due to improved controls.
- Innovation and improved collaborative initiatives.
- Better management of the risk of conflict in family businesses.