Governance structures for new and emerging industries

  • 34 pages

  • Published: 19 Jun 2023

  • Author(s): Tharani Dharmaraj, Alanna Rennie

  • ISBN: 978-1-76053-385-4

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An AgriFutures Australia audit of the research, development and extension (RD&E) plans of 17 emerging agricultural industries identified industry governance as one of six high-priority needs. Robust governance structures are essential to the sustainable growth of emerging industries. They ensure the industry is effectively promoted, well-positioned and strongly represented.

This report provides foundational information to emerging industries wanting to develop their own governance body. The main options for structuring corporate governance according to an industry’s needs, purpose and capacity are provided and include (a) private company limited by shares; (b) company limited by guarantee; (c) association; and (d) co-operative. Charities are also discussed. The benefits of each governance structure, and a decision tree to identify the most appropriate body according to an industry’s circumstances, are provided.