Corporate Governance offers greater trust for investors

Prishtina, November 30, 2021- The American Chamber of Commerce in Kosovo organized the next event with the topic ‘Workshop on Corporate Governance in SMEs and Family Businesses’, lectured by Visar Dobroshi, Managing Partner, Recura Financials.

Visar Dobroshi, Managing Partner, Recura Financials stated that this topic is important for businesses, helping them to increase and develop their businesses, afterwards increasing the number of employees, emphasizing the fact that corporate governance is essential for the well-being of the businesses.

According to him, the aspect of corporate governance and the way businesses are run, especially family businesses, are being discussed more and more. “It is becoming more and more evident that from the disorganized way of running a business come difficult moments for the business and its sustainability, and that is the moment when businesses ask for help on how to overcome those difficulties,” Dobroshi added.

Furthermore, he claimed that corporate governance involves processes that involve leadership as well as the relationship between the board, owners, shareholders, managers, and other parties, adding that corporate governance is important for businesses that are in partnership, and businesses where stakeholders are family members.

According to him, companies and businesses must timely make the division of functions, positions formalized by contracts, and job descriptions for a proper governance within the company.

He added that businesses need to have well-defined responsibilities, accountability, and transparency for good corporate governance, even if we are dealing with family businesses. He further mentioned the reasons behind the success of the companies, that are closely related to the internal systems of correctness and transparency. According to him, external consultants are a great help for consulting by giving their outside perspective and without conflict of interest in those businesses.

As one of the benefits of corporate governance, he mentioned investments which occur much more in companies that are well organized. According to him, decision making and authorization are two important aspects in the management structure of the company.