What is Social Purpose Business?
For most of history, ventures were founded upon one of two business models: A commercial enterprise would be established to maximize financial returns, or a not-for-profit or charity would be created to maximize social and environmental returns. However, over time, the way companies do business has transformed.
With growing social awareness among consumers, a greater sense of accountability among businesses and tighter government regulations, a newer continuum of business models has emerged. These models include everything from Social Enterprises to Social Purpose Businesses.
A Social Purpose Business uses entrepreneurial principles to organize, mobilize and manage a for-profit business that has a social mission at its core and the goals of creating both economic and social value. The following infographic outlines this in-depth, as demonstrated by Futurpreneur Canada and Trico Charitable Foundation:
During Global Entrepreneurship Week last fall, Now Creative Group c0-hosted a conversation about the global B Corp movement for entrepreneurs and business owners (Event Recap here). Given the great response, we are now bringing the event to Mississauga on March 25. At this event, you can find out what a B Corporation is, and how this certification is one force involved in growing the social-purpose business movement.
If you are a business owner, young entrepreneur, or an aspiring social innovator, come out to this free event for some networking and knowledge and walk away with some great inspiration for building a better business. The lead of B Corp Canada will provide a sound overview and some compelling case studies of the B Corp movement. We will also be joined by some of Ontario’s leading Certified B Corporations, for a panel to learn about their unique stories and how becoming a B Corp has made a difference for them and their communities.
Now Creative Group is committed to using creative communications to help others make a positive impact. From Designing for Good to supporting purpose-driven entrepreneurs, Now Creative Group is ready to start now.