Public Benefit Corporations - page 3.

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Quote from: Lucusfoundation on February 19, 2019, 10:58:43 PM

Do you believe they are important to build a sustainable economy? Yes? No? Why?

There is no such thing as zero-profit or profit-only businesses, but everyone tries to make gains using glamorous slogans such as community development, renewable resources, the ozone layer, and other things.
Cooperative companies create for benefit and benefit.
I believe that the personal motivations towards issues we are experiencing are stronger than the companies' offers or innovative ideas.

Lucusfoundation

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Quote from: Hydrogen on February 20, 2019, 04:55:11 AM

I think the concept of zero profit is founded upon legal loopholes and public misinformation.

There are many "zero profit" charities, religious enterprises and business organizations whose founders are millionaires / billionaires. I don't think there are many in the world who would be happy investing virtually all of their precious time and energy into something without being rewarded for it. The idea that large private enterprises are "working for free" for the "public benefit" and not being monetarily rewarded in the process is more a marketing campaign than something a person is likely to encounter in the real world imo.

This observation holds true not only for capitalism but socialism as well. People all over the world generally want to be paid and have something to show for their efforts.

Perhaps an exception to this rule may be found in volunteer efforts like doctors without borders as well as humanitarian or environmental activism like greenpeace which are manned by volunteers to a good degree. Everyone else wants to get paid.

PBCs are not zero profit businesses.

They are businesses that by constitution seek both for profit as for social/environmental impact.

Patagonia is one of the biggest, most profitable clothing companies in the world and they are a PBC.

Grameen bank is one of the biggest, most profitable and with highest payback rate bank in the world and its a PBC.

It's important that we don't confuse a PBC with a not for profit or NGO.

PBCs MUST seek for profit AND commit to positive change/impact.

Quote from: romero121 on February 20, 2019, 05:54:30 AM

End of the day everyone expect something for the efforts put forth to support development of a system. As in the Opening Thread very few companies operate as public benefit corporations. This is purely possible with the support from governments and other organizations that have got financial freedom earning big revenue from the public who are the key people for any success. As in the above quote volunteering falls under this and this isn't found in large number these days as the mentality of humans have shrunk.

Same as above

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End of the day everyone expect something for the efforts put forth to support development of a system. As in the Opening Thread very few companies operate as public benefit corporations. This is purely possible with the support from governments and other organizations that have got financial freedom earning big revenue from the public who are the key people for any success. As in the above quote volunteering falls under this and this isn't found in large number these days as the mentality of humans have shrunk.

Hydrogen

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I think the concept of zero profit is founded upon legal loopholes and public misinformation.

There are many "zero profit" charities, religious enterprises and business organizations whose founders are millionaires / billionaires. I don't think there are many in the world who would be happy investing virtually all of their precious time and energy into something without being rewarded for it. The idea that large private enterprises are "working for free" for the "public benefit" and not being monetarily rewarded in the process is more a marketing campaign than something a person is likely to encounter in the real world imo.

This observation holds true not only for capitalism but socialism as well. People all over the world generally want to be paid and have something to show for their efforts.

Perhaps an exception to this rule may be found in volunteer efforts like doctors without borders as well as humanitarian or environmental activism like greenpeace which are manned by volunteers to a good degree. Everyone else wants to get paid.

crwth

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I think it has been still about profit with the shareholders. The traditional corporations were built to have maximized profits and also dependent on what the government stated/signed in that public benefit. It has always been to seek profits whether it's private or public entities.

I think they are essential to the economy on the fact that it serves the public and benefitted by the public. Additional work can also be generated, employing those who don't have a job.

Lucusfoundation

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Companies with profit-only purposes have been the rule for the XX century.

With the rise of the XXI century, we are seeing a growing number of Public Benefit Corporations (PBCs) in the US or Community Interest Companies in the UK.

By constitution, they are FOR PROFIT but they MUST have public benefit (social/environmental) impact goals or objectives and be compliant with them.
In case they don't fulfill their Public Benefit Statements, they can get sued and fined both by clients as shareholders in the same way they can get sued if they DON'T address the PROFIT purposes.

The goal is to create a purpose based capitalism where profits and sustainable growth both socially as environmentally are achieved.

Examples of PBCs are:
Patagonia: One of the biggest clothing brands in the world, that address environmental issues.
Grameen Bank: One of the biggest and most profitable banks in the world, that address social issues.
Triodos Bank: One of the biggest and most profitable banks in Europe, that address social issues.
Kickstarter: One of the biggest fundraising/crowdfunding platforms.
Etsy: One of the biggest e-commerce and public (Gone through IPO) platforms.

Do you believe they are important to build a sustainable economy? Yes? No? Why?

Topic: Public Benefit Corporations - page 3. (Read 609 times)