Governance – a word that often fills business owners with fear. It is most often used in conjunction with large national or international companies. It also sounds a bit scary with images of red tape and large reports. So as a sole trader or small company you may think it doesn’t apply to you. In some aspects it doesn’t. The larger the company the more reporting requirements you have. These requirements are often base on number of employees or turnover. But there are some basic principles of governance that every business can use to.