Is your governing document fit for purpose?
Our governance advice for co-operatives and community businesses is unparalleled - and here we tell you why it's critical to ensure a governing document is up to scratch.
Good governance and success go hand in hand for every co-operative and community business. An important element of good governance is having a governing document that is fit for purpose. It's good practice for a co-operative to review its governing document every three years to ensure it remains compliant with the latest legislation and best practice.
Why regular reviews matter
- Legal compliance: Laws and regulations that affect co-operatives and community businesses are constantly evolving. Regularly reviewing your governing document ensures compliance and avoids potential legal issues.
- Reflecting current practices and supporting growth: Over time, the way your co-operative operates may change. Regular reviews help ensure your governing document accurately reflects current practices and procedures - as well as strategic goals and long-term vision - making it a living document that grows with your organisation.
- Enhanced governance and accountability: A well-maintained governing document promotes good governance by clearly defining roles, responsibilities, and processes. This enhances accountability and helps maintain trust of members and stakeholders.
- Clarity of purpose: Outdated or unclear provisions can lead to confusion and conflict. Regular updates help in streamlining operations and ensuring everyone is on the same page.
- Increased member engagement and Inclusivity: Reviewing your governing document provides an opportunity to engage members in governance. This process can increase member involvement and ensure the document meets their needs and expectations.
- Legal Risks: Failing to comply with new regulations can lead to legal penalties.
- Operational Inefficiencies: Outdated documents can cause procedural delays and misunderstandings.
- Member discontent: If members feel their voices aren’t heard or that their co-operative/community business isn’t operating transparently, they may become disengaged.
- Stagnation: Without regular updates, your co-operative/community business may struggle to adapt to new challenges and opportunities.
Our governing document review/amendment service
A robust and up-to-date governing document plays a critical role in the success of your co-operative or community business. As experts in co-operative and community business governance, our amendment service is designed to help you stay compliant, efficient, and fully aligned with strategic goals.
Why choose us?
- Expertise and Experience: Our team of experts has extensive experience in co-operative governance and understands the unique challenges faced by co-operatives and community businesses.
- Comprehensive Review: We conduct a thorough review of your governing document, identifying areas that need updates or improvements to ensure compliance with the latest legal standards and best practices.
- Tailored Solutions: We provide customised recommendations that reflect the specific needs and goals of your organisation, from small amendments through to starting afresh with adoption of new model rules.
- Smooth Implementation: We assist with the amendment process, including drafting new provisions, facilitating approval from members, liaising with the registrar and filing all necessary documentation.
- Ongoing Support: We offer ongoing support and advice to help you implement and maintain good governance practices.
Our fees
Our fees start from £500 plus VAT, with members enjoying a 20% discount. Contact our expert advisers today to learn more about our governing document review/amendment service and how we can help your business thrive.