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November 2005
Non-Executive Director Service Benefits UK Small Firms
Initiatives in Business Development Group Ltd. (ibd),
the national advisor network dedicated to helping small firms succeed,
has launched a non-executive director service in response to calls
from SME customers for better strategic business development advice
and support.
ibd’s core activity is the provision of
experienced advisors and specialists to smaller firms delivered
via a 300 strong national network. Non-executive directors will
be selected from the ibd network, which embraces
virtually every business sector and business skill set.
Non-executive directors benefit smaller firms in a number of ways,
instead of working on specific, often short term, projects, the
non-executive director joins the board and becomes a part-time member
of the company. Having a vested interest in the success of the firm,
the non-executive director is a constantly available source of knowledge,
information and guidance for the company and its other executive
directors.
According to Kevin Jackson, ibd’s Chief
Executive Officer, “Feedback from our business advisors and
clients indicates that in addition to support on specific issues,
many owner managers want regular ongoing support. This is particularly
important when they develop their future business strategies and
start to address corporate governance issues. The appointment of
an experienced senior manager as a non-executive director can be
the most cost effective way of satisfying this need”.
“Not involved in the day-today activity of the business,
the non-executive director has more time to consider and give independent,
objective advice as well as watching for any upcoming problems that
might otherwise be missed. The company can draw upon the director’s
experience; improve its longer term strategic and business planning
as well as using him or her to assist with any short-term problems.
A carefully chosen director will bring complementary skills, knowledge
and contacts to the business.”
Although non-executive directors have traditionally been associated
with larger companies, their increasing use by the public sector
and not-for-profit organisations illustrates how valued they are.
Phil Cocks, who is managing the programme for ibd
added, “There is an increasing recognition of the benefits
non-executive directors bring to a firm and a growth in the numbers
of companies using them. In fact, our research shows that in many
cases owner managers believe that the appointment of a non-executive
director has been the most cost effective investment they have made.”
For firms looking for a non-executive, ibd will
short list a number of candidates from within its rigorously vetted
membership, all will have relevant experience, bring a proven track
record of very senior business management experience and all will
have previously worked at board level. Candidates will be interviewed
by the company which will take the final decision as to who will
be most appropriate for the role.
More information about ibd and the new non-executive
director programme can be found at the ibd web
site on www.ibd-uk.com. This
site also includes brief overviews of ibd’s
business advisors from whom the non-executive candidates will be
selected.
For more details contact Phil Cocks on 01234 709671 or 0774 7035699
or email at philip.cocks@ibd-uk.com
or contact Rosie Featherstone on 01332 862 073
ENDS
Editor’s Notes
About ibd
ibd, launched in the UK in 2002, is dedicated
to serving the needs of smaller firms. It has successfully exported
its approach across Europe, opening a network in Benelux in 2003,
in Poland in 2004 and in Ireland earlier this year.
ibd members typically are experienced, senior
managers who bring maturity and experience and who have previously
held senior level positions in business.
ibd provides a high quality, full service to SMEs.
All ibd members have to go through a stringent recruitment programme,
attend comprehensive and continuing training programmes and adhere
to the organisation’s ethical policy.
ibd has built a number of innovative partnerships
with some of the UK’s largest banks and financial institutions
including HSBC, Nat West, PwC and venture capital providers Angel
Bourse.
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