Fourteen guiding principles to be used by directors in unlisted companies have been published to address the "neglected" needs of those firms. Trade bodies representing directors are behind the publication. The European Confederation of Directors’ Associations (ecoDa) and the UK's Institute of Directors (IoD) have published the …
Just guessing ...
... but I'd guess that:
* pay taxes to HMRC in good time to avoid penalties
* pay local authority any taxes or rates due
* send in electronic data to HMRC so that it can accurately calculate amounts due
feature highly on the list along with a few training options put forward and made available by Business Link?
If so, I'd expect the S as in SME probably have weathered such initiatives before (they seem to go hand-in-hand with economic downturn and central government initiatives to "recover all that is due" and partly because the tax-man does not have elevated status as a creditor?).
* Your bank knows everything about money and will always help you out.
If I had taken most of their advice when I set up in business, I'd be so far in debt that even the Irish Government would have said "You poor bugger".
IoD = It's obvious Darling.
Shouldn't "send in electronic data to HMRC so that it can accurately calculate amounts due" say "send in electronic data to HMRC so that it can fail to accurately calculate amounts due but make it your fault anyway, then leave your details on a train"
Why keep guessing, when you can have the direct link to the document. :)
Here's the link:
The 14 Principles in the document are really all about control, control, control, but then like the old saying, "If you think like a hammer, everything starts to look like a nail" ... in the case of directors, people who naturally seek power over others to control them (for their gain), then in their case, every answer has to in their mind include them increasing their control over everyone else.
As for this bit ... "it is important to recognise that the company is not an extension of the personal property of the owner."
Yeah right, good luck trying to convince some bosses of that one. I've worked for a number of bosses who had this exact attitude and they begrudged every penny spent even if it would earn them very good money they still resisted, unless of course they could turn it around into becoming their idea. But then that's also a good warning sign of a Passive–Aggressive Narcissist mind game pattern of behaviour, where they endlessly fear dependence on others and do all they can to seek to control and obstruct the success of others and don't even want to believe they need others yet ironically they end up undermining their chances of people wanting to invest their ideas into their company. At which point I would expect some employees get that sinking feeling, as they recognise this pattern of behaviour in their boss.
(The bosses fear dependence on others as they fear ever having anyone with power and influence over them ever again the way they suffered excessive control as a child, but unlike the Aggressive Narcissists (outright bullies), the Passive–Aggressive Narcissists bully by sulking, undermining and mind games as they don't want direct confrontations, so a lot of what they do is hidden by them).
Ultimately though its all about control, control, control. At which point its time to find a new job :) … (and a better boss . ;)
I'm guessing you weren't the target audience.
But that aside, they should have included, as an attachment, a copy of all of the laws to which a SMB is subject.
Change of mind
I am sort of embarrassed at my earlier response (AC: 30 Nov 200 09:40 GMT) and after looking at the pdf it gets my support.
The distinction between operational management and governance issues is not really clear to all.
Plus there are some strange blendy things such as in the UK voluntary sector, no governors = no income even though the governors are (usually) unpaid volunteers.
I'd guess that there are strong correlations between poor governance and poor operational performance.
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