SunSentinel: Benefit Corporations law helps social entrepreneurs in Florida

SunSentinel (June 24, 2014) – Florida has become the 25th state to allow a new kind of company which is set up to serve a public purpose.

Gov. Rick Scott this week signed a law allowing “Benefit Corporations,” for-profit ventures that are formed to help employees, the community, the environment or others in addition to their owners.

The law should help bring new kinds of businesses to the state from “social entrepreneurs” who focus on the triple bottom line of profits, people and planet, said Sen. Jeff Clemens, D-Lake Worth. He co-sponsored the legislation with Rep. Patrick Rooney Jr., R-Palm Beach Gardens.

“It’s a great way to attract a different kind of entrepreneur and create jobs,” said Clemens.

Sequil Systems of Delray Beach, an environmental consulting firm, is interested in becoming one of Florida’s first legally-constituted Benefit Corporations when the law takes effect July 1.

“When our clients work with us, they’ll know we are committed to the greater good in our articles of incorporation,” Sequil’s managing principal Jef Conley said Tuesday.

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