Insight. Innovation. Industry.
Business / Community Development /  •

Provinces back social enterprise business model

Ontario and British Columbia have recently taken steps to support social enterprises – organizations that use business techniques for social purposes.

B.C. has created a new hybrid business class called Community Contribution Company (C3) that is intended to bridge the gap between non-profit organizations and for-profit businesses. Having a C3 designation means the company has a legal obligation to conduct business for social purposes, not just for profit.

Ontario includes cooperatives, not-for-profits and for-profits under its social enterprise efforts. It recently announced a strategy to support these enterprises and is considering the new business class adopted in B.C. ◊