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Governance and partnerships

As your business grows and demands more of your time, it will be difficult for you to make every key decision. Many business owners set up an advisory board or board of directors to help streamline the decision-making process. Explore both options and decide if either is right for you.

Board of Directors or Advisory Board

When you first start your own business, the decision-making process usually falls on one pair of shoulders. It is often difficult to continue making decisions and to grow your business at the same time. Many entrepreneurs ask their peers for advice or appeal to a board of directors or an advisory board for specific expertise. The following documents explain why you should think of either setting up a board of directors or an advisory board for your company.

• Advice an entrepreneur can count on
  
  http://www.bdc.ca/en/advice_centre/articles/Pages/boards.aspx
  Learn more about how a board of directors can offer valuable advice to your company.
• High Performing Advisory Boards
  
  http://www.ontariocanada.com/ontcan/1medt/smallbiz/sb_downloads/we_report_advisoryboards.pdf
  Find out how an advisory board can be of value to your business and get practical advice on getting the right people around the table.