The “ideal” Non-Executive Director should be able to bring these qualities:
• Strengthen the Management Team and The Balance Sheet (when they become a shareholder).
• Be involved in the creation of the company’s robust and defensible Business Plan, policies and strategy.
• Possess substantial and successful business experience ideally in a similar business sector.
• Possess vision and be able to apply creative thought to the business.
• Review plans and budgets which will implement policy and strategy.
• Be a confidential sounding board for the MD/CEO and keep the focus of the MD/CEO.
• Provide an independent assessment of the management structure.
• Objectively assess the company’s overall performance.
• Provide outside experience of the workings of other companies and industries.
• Provide contacts with third parties such as financial sources, grant availability, potential clients etc.
• Supports the MD, acting as a mentor and “Wise Owl” while remaining independent.
• The presence of a Non-Executive Director with sufficient credibility will provide comfort to a company’s suppliers, Bankers and funders.
• Act as an effective referee on a Company’s Board.
• An NED brings specialist and invaluable knowledge at critical stages of a Company’s growth through similar experience in other businesses.
• Experience to determine appropriate remuneration levels for the Directors.
• Beneficial sector contacts that have been acquired in previous businesses.
• Possess sharp analytical skills.

The “ideal” Non-Executive Director should act as follows:
• Be well prepared and well informed for each board meeting.
• Attend board meetings regularly.
• Devote time and effort to understand the company and its business.
• Be prepared to travel and participate at events such as exhibitions outside the boardroom.
• Make strong contributions to board meetings especially on the development of strategy and risk management.
• Used their own knowledge and experience to question and review company strategy.
• Effectively probe the information provided and the assumptions.
• Be resolute in maintaining their views whilst constructively resisting pressure from others.
• Effectively follow up areas of concern.
• Have good relations with other members of the board and senior management.
• Continually refresh their knowledge and skills on corporate governance, financial reporting, the industry and the market.
• Communicate well internally and externally.
• Be a Team Player who lets the Executive team get on with their jobs.
• Be a good listener and a good communicator.
• Listen constructively to their colleagues.
• Be an Independent advisor who can challenge as well as support.