Does The Size Of Your Board Represent You?

There is always a discussion around whether the size of your board is appropriate for your business. Should it be bigger or smaller? Board size can depend on the nature of your business, how big or small your company is, and the impact of good governance on your business. While size is an important factor to consider, the composition of your board should also be revisited from time to time.

As we approach the beginning of Q3, now might be a good time to evaluate your board's efficiency and analyze your board size and composition. Here are a few reasons why this evaluation matters:

TRANSPARENCY

A smaller board can facilitate more room for collaboration between the board members and the company overall. However, it also means meetings may be more informal, leading to the possibility of overlooking certain crucial issues or taking things too lightly. This can lead to gaps in communication due to missing crucial information.