Sunday, August 21, 2016

What B Corporations Are

It's short for "Benefit Corporations"

Wikipedia puts it this way,
"A type of for-profit corporate entity, authorized by 30 U.S. states and the District of Columbia that includes positive impact on society, workers, the community and the environment in addition to profit as its legally defined goals. Benefit corporations differ from traditional C corporations in purpose, accountability, and transparency, but not in taxation....

The purpose of a benefit corporation is to create general public benefit, which is defined as a material positive impact on society and the environment, i.e. maximum positive externalities and minimum negative."

They've only been around since 2010. Maryland was the first to grant legislation for the creation of them. Pennsylvania eventually came around in October 2012 to pass similar legislation. There's a website listing some of them. Although it's not been updated since 2014 they seem to still remain active on Facebook. There also seems to be another site HERE

On May 31, 2016 Forbes posted an article entitled, When Being A 'B Corp' Is Better Than Just A Company.

Lord knows I and many others complain constantly about corporations and their lobbying. Here's a chance for consumers to make a real difference by supporting companies that invest their profits for something other then influencing Washington and state politicians for their own gain. We may not be able to change the world. Here at least is something we can do to make our voices heard even if in a small way.

Every business exist to make money. The way to bring about real change is through our wallets not just at the voting booth. Buy local from those you know and trust. Shop family owned farms, stores and businesses. Support B corporations existing for the greater good beyond themselves.

May 2012

Courtesy "TEDx Talks"

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