Non-Executive
Directorships
Non-Executive Directorships 2018-11-02T15:13:43+00:00

Non-Executive Directorships

Simply a helping hand when needed

What is a non-executive director (NED)? An NED is usually a member of the board but is not part of the executive management team who make the decisions. He/she is there to advise, support and offer real-life, practical business experience.

Please click on the link to download a copy of our Company Brochure – Coyne Consultancy Company Brochure.

The duties and responsibilities of directors, including NEDs are many and varied, the breach of which can lead to personal liability – both civil and criminal.

A director is liable for any damages or losses to the company as a result of their acts, omissions or breach of any legal or contractual duty.

The problem is firstly that there is no difference between the duties owed by a director of a large listed PLC or of a small, family-run business. Secondly, there is little or no formal training for directors; they are often thrown in the deep end to either sink or swim.

So it’s not surprising that from time to time directors need help and support from people who have seen it all before, who have been there and done it, understand the finances, the risks and are well networked, so that if they don’t know the answer, they will inevitably know someone who does.

This is where my knowledge and expertise can help, as long as I feel I can make a difference. This will likely be on a short-term or perhaps even one-off basis, to suit, to offer clarity and support where short-term challenges present themselves. This can be offered on either an hourly or fixed rate to suit the company.

Reasons to hire a Non-Executive Director (NED)

1. Experience and knowledge
The business may face challenging times which the NED is likely to have encountered before, and if not, knows someone who has. Leveraging on this experience and knowledge can be extremely useful.

2. Is the business well-networked?
Having the right business connections and being well networked can be difficult for small businesses to access. A well connected NED will be able to make high quality introductions that would otherwise be hard to access.

3. Independence
An NED can provide an important perspective on issues that might otherwise be overlooked, including:

  • Are targets being met?
  • Is the business on track?
  • What external changes are facing the business
  • Are payments up to date?

4. Strategy
Management may be heavily involved in the day to day running of the business, but it is important to have a strong strategic view. A good NED can provide a more objective view on issues affecting the business and opportunities for growth.

5. Guidance
A business can be successful but run on a very ad hoc basis. Decision making may be informal and loosely managed.  Bad habits can creep in and important things get missed.  A good NED can guide management, keep them on track and alleviate any tensions.

If you are considering appointing a non-executive director, and would like to discuss the pros anc cons, then please contact me or call me on 07778 999883 for an initial discussion, free of charge and without obligation, at any time.