Governance360 Blog

what is an ideal non-executive director?

10 qualities for an ideal Non-Executive Director (NED)

A Non-Executive director (NED - or sometimes called a NXD), is a member of the board of directors of a company or organisation, but not a member of the executive management team.

A NED is therefore not part of the day to day management of a business, however as a NED you are responsible as part of the board for the success of the company (why not read 'How to run effective board meetings' next?). Here we set out ten qualities that are sought from an ideal Non-Executive Director that will help make this happen…

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7 things you should know about Director’s loans

If you have a limited company, a director’s loan is something that might crop up – either you as a director may wish to loan money to the company, or you could borrow from the company.

Either way it is important to know what it is, how you should process it and what guidelines you should follow. Here we cover 7 things to know about Director’s loans…

 

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5 tips to improve your Board's skills

5 tips for improving your Board's skills

A company’s Board of Directors is in essence your business’s governing body. They work for the company, are responsible for the company, and are there to provide the company with advice and guidance.

The decisions your board makes should always be in the company’s best interests, and provided you have recruited the right members for your board this will be the case.

However, the more skilled your board is, the better informed they are and the better decisions they can make. We explore here five tips for helping you improve the skills of your board of directors…

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How to write board minutes purposely

How should board minutes be written - purpose and style

Writing minutes of a board meeting is a necessary part of making sure your board of directors is run efficiently and successfully.

There are not many legal guidelines on the contents of your minutes, although there are some common and best practices which you can read about here.

There are sometimes questions around the purpose and style of board minutes, which we cover below…

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What should board minutes contain?

What should board minutes contain?

Part of running a successful board is minuting the meeting well. This is important so that when minutes are shared after the meeting everyone knows what their expected next steps will be and who is responsible for which actions.

Let's face it, board minutes may not always be exciting, but there are some things you should make sure you include in them, which we have shared with you below…

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7 ways to check your data storage is GDPR compliant

It is important to keep an eye out for changes in your systems or processes with regards to data storage. Organisations are not only expected to look for ways to anticipate data protection and privacy issues, but prevent them. 

To ensure your company stays protected from risk, here are our 7 ways to check your data storage is GDPR compliant…

 

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7 things to do when transferring shares

When a new shareholder is appointed to a company it is common for them to receive shares by way of a transfer. Although transfers in private companies are rarer, there are a number of events in which they may occur, such as transferring to family members, or when the company structure changes.

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How to run effective board meetings

A board of directors is there to keep your company on track, and protect the interests of the company shareholders. It is not their job to run the company, that’s the responsibility of the CEO or Director and their team, however it is their job to ensure the company is delivering on what is has set out to achieve.

The Institute of Directors’ (in their factsheet on effective board meetings - see the links at the bottom of this article) perhaps sum it up best as they comment,

“Successful companies use board meetings to create and improve key business strategies”

How you run your meetings has a big impact on your business’s success. We set out a few suggestions for best practice below…

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6 things to do when appointing a new director

If you have a limited company, you will know that it cannot be formed without both a director and a shareholder. However, once you have started business and you have got to the point of appointing subsequent new director(s), what do you need to do? 

As with anything regarding company information it is important to ensure you file the details correctly, but there are other things you may want to consider. 

Here we cover six things you should do when appointing a new director…

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