Corporate governance in Belgian SMEs: in-depth research by Deminor
There are almost 1 million SMEs in Belgium, 75% of which are family businesses. Deminor keeps its finger on the pulse to keep up with developments in this area, and has carried out a quantitative study on the position of the shareholder and management practices in Belgian SMEs.
We examined 6 specific topics: ownership structure and operational involvement of shareholders, corporate governance practices, mission statement, budgeting and business plan, dividend policy and family remuneration and family succession plan.
The results of this study show that although Belgian shareholders are well involved and informed, there is still a lot of work to be done to improve corporate governance and the implementation of shareholder agreements.
A successful entrepreneur looks beyond day-to-day operational decisions. A more professional structure and the introduction of better governance strengthens the company’s credibility and generates a positive image among customers, suppliers and banks.
Properly formulating and matching the question is the beginning of every answer. This also applies to the outcome of this study, a welcome conversation starter for anyone involved in an SME or family business.
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