The Role of a Non-Executive Director in SMEs

• Main Author: WANG, Jiwei
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2012
• Subjects: Accounting; Asian Studies; Entrepreneurial and Small Business Operations
• Online Access: https://ink.library.smu.edu.sg/soa_research/1044; https://ink.library.smu.edu.sg/context/soa_research/article/2043/viewcontent/BT_20120828_1.pdf
• Institution: Singapore Management University

There are not many SMEs in Singapore which employ independent non-executive directors. SMU Associate Professor of Accounting Wang Jiwei advised that there are immense benefits that a non-executive director can bring to an SME as its business grows. These include the credibility that the person can bring to the management team, including the important and useful contacts, as well as different skill sets and experiences. “Understand your needs and then identify the right type of experienced individuals who possess the necessary expertise or business networks. There is a high possibility that your ‘perfect' non-executive director may be someone you already know,” he said.