Startup Funding Espresso -- What Is a Benefits Corporation?
What Is a Benefits Corporation? Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. A Benefits Corporation is a legal entity that is set up to provide a public benefit. The company using this entity must commit to producing a public benefit. The board of directors must consider the consequences of its decisions on the community. The company must provide a report on its social and environmental performance. The standard is the Delaware Public Benefits Corporation or PBC. A B-corp is similar but distinct from a Benefits Corporation. A B-corp is certified by B Labs for meeting social and environmental standards for performance, accountability, and transparency. The company\u2019s impact is measured with an assessment tool by B Labs. The intention is to encourage the directors of a company to consider the interests of the broader community. Those pursuing a B-corp must amend their operating agreement. There\u2019s an annual fee based on revenue for the company to maintain a certification. Startups providing a social or environmental impact may want to adopt a Benefits entity or B-Corp designation. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.Let\u2019s go startup something today. ___________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .