Today's breed of entrepreneur often faces a terrible binary, "either/or" decision -- "Should I be a for-profit or a non-profit." The implication of the decision often destines the organization to either creating private wealth for investors or helping the planet and its people to flourish.
Now, that could change!
California stands to be one of a few states in the country that will lead in the effort to adopt a new organizational form where both goals can be seamlessly built into one organization. No, this won't provide for tax deductible contributions for "for-profit" organizations, so it will not take money away from important philanthropic endeavors. But California's proposed Flexible Purpose Corporation legislation would allow for a new breed of organization where sustainable flourishing of people and the planet could be achieved in one organization.
Unlocking the private capital markets for these types of endeavors presents an unharnessed resource in tackling some of the world's toughest problems -- extreme poverty, malnutrition, infant mortality, lack of access to clean water, lack of access to education and electricity, transparency of supply chains to ensure freedom from slave labor, protection of the environment -- and the list goes on and on.
Please let the California legislature know that you want your voice counted as one supporting this type of organization. Please sign this petition and pass it along to your friends.
Isn't it about time that we encouraged "Business for Good?"(sm)