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Business model needed to promote social enterprise
Key Excerpts from Article on Website of San Francisco Chronicle (San Francisco's leading newspaper)
Posted: June 8th, 2011
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/05/30/...
[In] California ... job growth remains stagnant, public coffers are low and much-needed government services are reduced. Yet maverick companies are stepping forward, inventing business models that create public benefit and deliver economic returns. Such "social enterprises" have gained traction in the marketplace. For example, New Leaf Paper has led the paper industry with its more sustainable operating practices and 100 percent recycled products while generating strong profits. And there are others: Revolution Foods, Give Something Back, Cleanfish and SaveUp, to name a few. New legislative proposals could sweep in a wave of such firms. Sen. Mark DeSaulnier, D-Concord, introduced a bill in the state Senate to support the creation of "flexible purpose corporations" that seek profits and at least one broader social or environmental goal. A bill introduced by Assemblyman Jared Huffman, D-San Rafael ... would allow entrepreneurs to incorporate their businesses as "for-benefit" or "B corporations." Seeking social impact would become part of the fiduciary responsibility of directors and executives of these firms rather than a distracting pursuit that diminishes financial return.
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