Why form a B-Corporation?
Chances are you’ve considered the key benefits of forming a B-Corporation:
- Secure your personal assets through liability protection
- Unlike traditional corporations, B-Corporations have an have an underlying purpose of meeting social and environmental goals, and committing to higher standards of purpose, transparency and accountability.
- Provide for the issuance of stock in your company
- Most B-corporations strive to have higher accountability and seek to build growth from the underlying business purpose of supporting sustainability
- Establish credibility with customers
What is the difference between being a B-Corporation and a Non-Profit Corporation?
Unlike non-profits, benefit corporations are for-profit entities and therefore do not offer the same tax advantages as a nonprofit. Both nonprofits and benefit corporations aim to make a positive impact on society and the environment. But benefit corporations conduct business activities that presume a return on investments, while non-profits seek charitable donations to fund their business practices. Nonprofits cannot become benefit corporations but a nonprofit may create a benefit corporation as a vehicle for conducting and scaling the earned-income activities of the nonprofit.
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