Benefit Corporations for Conscious Capitalism

CC-Floirda-Logo-WebsiteI want to thank everyone that has provided financial and advocacy support for Conscious Capitalism Florida in the past two weeks and give you an update on our progress. We wrap up our first quarter this week so please keep the support coming. You can donate or become a member here.

Just three months before deciding to write Corporate Empathy I discovered a new corporate structure called a Benefit Corporation that I wrote about in September 2011, B (Benefit) Corps, the Business Model to Watch.

Benefit corporations are exactly the same as traditional corporations except for three little things that make them game-changers: higher standards of purpose, accountability, and transparency. Benefit corporation laws have been enacted in 12 states and are moving forward in 15 others. Legislation has enjoyed overwhelming bi-partisan support — including 12 unanimous votes — because the legislation is 100% voluntary and costs states nothing.

Little did I know that 18 months after stumbling on this new idea I would be in Tallahassee last week with a policy advocate from B Lab (the non-profit behind B Corps) helping to kick start stalled legislation at the Florida Capitol.

Making this new innovative corporate structure available to Florida’s entrepreneurs, business leaders, and investors could be the single biggest economic development move our state could make this year.

Some Statistics *

  • $3 Trillion in impact investing money available today
  • Over 200 American Businesses are Registered as Benefit Corporations
  • No cost to the state and contains no tax exemptions or benefits
  • Voluntary with no effect on traditional corporations

For a great description of the significance of B Corps to our evolving economy you can watch B Lab co-founder Jay Coen Gilbert’s presentation at a fundraising conference in 2011 hosted by Richmond Unite which was headlined by Sir Richard Brandson.

I am excited to be a part of making this happen for our state and will keep you up to date on our progress.

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