ABSTRACT
This chapter explores the phenomena of entrepreneurial business and of the related family business sector. The idea that entrepreneurs would have any time for corporate governance is counterintuitive. It seems rather like mixing oil and water an exercise in frustration and futility. Trust is usually developed over time through using certain principles in personal and business relationships. Bank finance is inappropriate for startups, and bank lending is always at arms length from the risks of the enterprise. Entrepreneurs are usually better at working with customers than colleagues. Publicity implies accountability; for many entrepreneurs accountability is solely between them and God. The success of entrepreneurs is crucially dependent on leadership. Corporate governance has been developed to referee team games; entrepreneurs prefer solo sports and compete primarily with themselves. The attraction of founding a business is to win independence from employers and the freedom to live and work for your own satisfaction.
