What it Means to Be a Public Benefit Corporation
Our main motivator at ClipDifferent is two-fold: to run a good business AND to do good as a business.
And that’s why our official legal name is ClipDifferent, GBC. The GBC stands for General Benefit Corporation which, in Minnesota (our home state), is a version of a Public Benefit Corporation that allows for public benefit to be a charter purpose within the company. The short version: profits are fine, but simultaneously doing a public good is even better.
Corporations have historically operated as though their financial commitment to their shareholders was their first and foremost priority. This is, after all, why many companies are compelled to constantly re-examine how to drive down costs and maximize profits (even if it’s to the detriment of their own employees, community or environment).
Becoming a PBC gives the opportunity for corporations to both run a good business and do good as a business.
When the Minnesota PBC Act passed into effect in MN in 2015, businesses could incorporate under the traditional corporate structure, or as a Public Benefit Corporation. As a PBC, companies can commit company resources to serve other stakeholders in their business — including employees, customers, the health and well-being of the community and the environment as well as to please their shareholders. Essentially, PBC’s aim to broaden their mission from maximizing profit margins to benefiting everyone involved. As a Public Benefit Corporation, companies can commit to either a general benefit, where the corporate mission will aim to serve the broader community, or to a specific benefit where a specific social purpose is outlined the company’s charter.
ClipDifferent’s purpose is: to perform services in connection with people who have limited hand dexterity as a result of various physical or neurological disabilities, visual impairments, limb loss/difference; to empower them by making products which make their lives easier by maintaining or increasing their ability to perform the simple self-care task of fingernail clipping. We also take pride in being a resource of information that could be useful in any way to such people. In simpler terms, our mission is to make a positive difference in people’s lives no matter their age, circumstance, or ability.
ClipDifferent, GBC, appreciates all who do business with us; from suppliers (REO Plastics, Great Northern), to our friend Marilyn at Bremer Bank, to consultants (thank you Curt, Maccabee, and others), investors, organizational partners (Achieve Services), and consumers (a big thank you to those who pre-ordered).
We are in the business of helping people and want those who collaborate with us to be better for doing so!
We believe there is enough success for everyone, and that it’s fun to do good work with good people!
If you or your organization are aligned and interested in doing some good, please connect with us by emailing firstname.lastname@example.org.
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