The Latest on Washington State’s Social Purpose Corporation – Is Seattle the Capital for Social Entrepreneurship?

Over the course of my routine internet reading this past week, I came across a large number of blogs and stories regarding the Social Purpose Corporation and some creative ways to use the legal structure.  So I thought I would share.

Seattle Social Purpose Corporation Meetup

First, I should note that there’s a meetup in town dedicated to learning about, discussing, becoming, and promoting the Social Purpose Corporation.  The inaugural event had a decent sized gathering (I would guess 30 people) and good energy.  The meetup organizers are hosting a new event this upcoming week.   The event will be over the lunch-hour on July 17th at Hub Seattle/BGI’s new location.

If you know anyone who is interested in social enterprise, wants to learn more about the SPC, or is just interested in the Seattle’s start-up community, have them check it out!

Summary Blog on SPCs at GeekWire 

Joe Wallin, an attorney for Davis Wright Tremaine, posted a blog through Geekwire explaining the pros and cons of the SPC.  It’s a good addition to the nuts and bolts piece I’ve posted, including a strong, balanced section on the SPC’s drawbacks.   Worth reading if you’re an entrepreneur considering an SPC.

Julaine Smith’s “G Corporation”

Local CPA and business coach, Julaine Smith, blogs about establishing “G Corporations” (The “G” is for generous).  She has dedicated her consultancy practice to making a profit and making a difference.  Sound familiar?

This past week she blogged about how Washington State’s Social Purpose Corporation is an exciting fit for her concept of the generous corporation.  After digging a bit more into her G Corporation concept, I agree.  The SPC is a great fit for a business that is organized to help ease and eradicate poverty at the local, state, national, and global level.

FastCompany Post:  Will Seattle Become the Capital for Social Entrepreneurship? 

Finally, Fastcompany posted an article asking the question above.  Frankly, I’m not qualified to answer  – I’m far too biased!  Seattle is an incredible place to found a social enterprise.  Read more about the reasons why (access to capital, support services, mentorship, incubators focusing on social enterprise, government support) here. 

 

The article provided above is for general information purposes only and should not be relied on as specific legal advice. This article does not form an attorney-client relationship. If you have any questions about this article, please feel free to contact Peter J. Smith at peter@apexlg.com

 

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