Sami Grover: Beneficial B Corps

Regarding the April 21 business article “Benefits, drawbacks of B Corps”: Thank you for this article about House Bill 534, which would recognize Benefit Corporations as a distinct corporate entity. For once, this is a cause that should unite progressives and small government conservatives alike.

While the Civitas Institute is right to point out that lawful businesses benefit society through taxes and job creation, we must also recognize that too many do so while ignoring environmental or social externalities, which the taxpayer ends up paying for.

House Bill 534 would support those businesses that are willing to go above and beyond the bare minimum, that give back to the community in multiple ways and that often shoulder considerable costs to take full responsibility for their impact on the world around them.

Given the adoption of similar legislation in other states, the bill will also ensure that North Carolina remains competitive in attracting vibrant social enterprises, and it will encourage all businesses to be a part of the solution, not the problem.

This story was originally published April 27, 2015 at 5:02 PM with the headline "Sami Grover: Beneficial B Corps."