|For example, Theresa May’s push for more controls over governance at large private businesses reflects that increasingly it is not just listed businesses that are being pushed into greater transparency and oversight.
And even if businesses aren’t publically listed, their corporate reputation still matters – when businesses are in the spotlight, how they are perceived will matter to customers, regulators, partners, lenders and so on. And the enduring trend since the financial crisis has been for companies to be more in the spotlight, not less – meaning that reputation will increasingly impact their ability to raise finance, expand and conduct corporate activity.
No company is an island and even private companies are facing increasing scrutiny. Any prominent business – regardless of its ownership structure – can reasonably expect more scrutiny, not less, in the near future.