Business Advantages of Supporter Community ... - Supporters Direct

10 Transparency, Openness and TrustKey Question:Does supporter community ownership help encourage greatertransparency in club governance, particularly in relation to finances?Top Three Findingsi) The overwhelming belief amongst those clubs we spoke to was that thereis increased transparency at supporter community owned clubs. Thiswas backed up by findings from the supporter survey.ii) More often than not, it was felt by club personnel that this wassomething that they should do as well as something which is built intothe community benefit society structure, i.e. something they have to do.iii) Transparency and openness were key factors in underpinning thecommitment of other strategic partners to the clubs.Under Community Benefit SocietyUnder Community Benefit Society rules, all supporters’ trust owned clubsrules, all supporters’ trust owned have to publish annual accounts whichclubs have to publish annualhave to be approved by members ataccounts which have to be approved their Annual General Meeting. Alongby members at their Annualwith the democratic election of theGeneral Meeting.Community Benefit Society board,this provides a level of scrutiny andrecourse for supporters as well as a level of public transparency which issometimes lacking at other clubs.Although situations vary depending on whether clubs are formed as aCommunity Benefit Society or if the trust owns a controlling stake, severalclubs demonstrated an additional level of commitment to transparencyand consultation with their members/owners beyond constitutionalrequirements.As discussed elsewhere in this report the level of openness has beena significant factor in relationship development, notably with publicauthorities.Developing trust between clubs and supporters is an important businessadvantage and can result in better financial performance, lower transaction40 Supporters Direct Briefing Paper No.4