Now the title I chose for this post is quite fecisious. I apologize for that.
This idea came to me a few days ago: now we have Non-Profits Organizations and then businesses but not really anything in between. What if there was some sort of legal entity that could be created that could function as a business, by selling some goods and services, providing a small amount of surplus for increased wages and expansion but with the main purpose of giving (most of) the profit away to charities, hospitals, third-world projects and other community-building exercises?
Imagine this: an electric car co-operative in Ontario employing two thousand people. Now as a legal entity they are allowed to use surplus cash to increase workers wages and to expand by a certain percentage but beyond that they must give it away. The co-op chooses to build wells in Africa with it's profits.
Now how is that for some legislation that could be past?
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Well, it's called "social enterprise"
ReplyDeleteI realize that. But is there any legal entity that one can set up that could function like what I described, be taxed as is needed etc.
ReplyDeleteIf there is that would be awesome. I am in no way claiming exhaustive knowledge on the subject.