What structure is good for your business?
When someone says they want to start a business, most people think of a traditional for-profit enterprise. Some, on the other hand, imagine the next great charity.
But what if your idea for a business is something in-between? Now, more than ever, there are many different corporate structures to fit your entrepreneurial dream.
On October 8, Allyson Hewitt, senior fellow of social innovation at MaRS, will explore different types of entrepreneurship at Entrepreneurship 101. This lecture delves into the various business structures that are available and the questions entrepreneurs must ask before committing to building a business.
On the organizational spectrum from for-profit to non-profit, a whole slew of social venture structures, including B Corps, are helping entrepreneurs balance social impact with financial return. These ventures use the power of business to address social or environmental problems.
Having a triple bottom line is possible no matter what sector your business is in. Here at MaRS, many of our venture clients are using business to do good. Here are just five of them:
- Local Buttons is refining the manufacturing process in Haiti to up-cycle secondhand clothing into clothing that is marketable in North America.
- QoC Health improves the relationship between patients and care providers by enabling patients to more easily participate in their own care.
- Giveffect is the first crowdfunding platform built exclusively for charities and non-profits, as well as corporations, with an emphasis on next-generation donors.
- Sunfarmer provides solar energy services to rural and other communities lacking access to reliable and affordable electricity by providing financing and technology solutions.
- Learning Bird offers affordable, online, individualized learning experiences and rewards the teachers who make them possible, both inside and outside of the classroom.
Interested in what structure might be good for your business? Join Entrepreneurship 101 on October 8 from 6:00 – 7:00 p.m. in the MaRS Auditorium to hear more about the different types of entrepreneurship.
Update: If you missed the lecture, take a look at the lecture video below!