New York SBDC Research Network

There are a growing number of entrepreneurs, investors, consumers, and governments worldwide that are embracing the power of business to create positive social change. Social entrepreneurs are starting businesses that generate earned income (like traditional for-profits) while simultaneously generating a social benefit (like traditional non-profits), and an increasing number of consumers, job-seekers, and investors want to be a part of this emerging social enterprise sector. Andrew Delmonte, Social Enterprise Coordinator at the Buffalo SBDC , has created the Benefit Corporation Guide. Intended to be a legal roadmap for the small business social entrepreneur, the guide introduces the New York State benefit corporation, and guides prospective social enterprises through both the process of incorporation and the procedures necessary to meet the ongoing requirements of benefit corporation law. Download the Benefit Corporation Guide here.

From Andrew Delmonte , Social Enterprise Coordinator at the Small Business Development Center at SUNY Buffalo State. The SBDC’s Social Enterprise Services include free one-to-one counseling in the following areas: social business planning, Benefit Corporation filing, social impact measurement and reporting, and financing your social enterprise. For more information contact Andrew at (716) 878-4030. Is your business venture motivated by more than profits? Do you want to start a “triple bottom line” business, to pursue both social impact and financial self-sufficiency? If so, Benefit Corporation legal status might be right for you. A Benefit Corporation is a hybrid legal entity that blends elements of nonprofit and for-profit corporations. It is taxed like a traditional corporation. It protects directors from liability for pursuing a social objective instead of simply profit. Benefit Corporations measure both financial and social bottom lines, and report their social and environmen...

From Kickstarter: Kickstarter Inc is no more. We’re now Kickstarter PBC — a Public Benefit Corporation. We’re thrilled to share this news, and we’d love to take a minute to tell you exactly what it means. Until recently, the idea of a for-profit company pursuing social good at the expense of shareholder value had no clear protection under U.S. corporate law, and certainly no mandate. Companies that believe there are more important goals than maximizing shareholder value have been at odds with the expectation that for-profit companies must exist ultimately for profit above all. Benefit Corporations are different. Benefit Corporations are for-profit companies that are obligated to consider the impact of their decisions on society, not only shareholders. Radically, positive impact on society becomes part of a Benefit Corporation’s legally defined goals. Kickstarter is excited to join a growing list of forward-thinking organizations — like Patagonia and This American Life — that hav...

Most people start a business with one key objective in mind – making a profit. Yet some companies seek out not only to profit but also to provide a tangible benefit to society and the environment. These companies, depending upon a few specific criteria, are classified as Benefit Corporations or Certified B Corporations. Confused by the difference between the two? Didn’t even realize there was a difference? You’re not alone – it’s one of the most confusing aspects of a recent movement for companies focused on giving back. Benefit Corporations and Certified B Corporations have a lot in common, but there are a few key differences.  Benefit Corps To date, 31 states (including New York)  as well as Washington, D.C. have passed laws creating a new type of corporation – the Benefit Corporation (often referred to as “Benefit Corp”).  Benefit Corporation status involves a separate process available to companies in every state. These companies pledge to think about people a...