For-Profits Act Like Non-Profits: 2 New Business Types Changing The World

Jan. 29, 2011 - PRLog -- TORONTO, CANADA (January, 29 2010)  - We've all heard of Corporations, Sole Proprietorships, and Non-Profits. Now there are two new business structures, B Corporations and Social Businesses, that have the potential to better the world. Moreover, they're inspiring a whole new generation of companies, companies like Deal A Thons, to give back to their communities.

B Corporations are companies that have applied for a special certification after showing that they meet rigorous and independent standards of social and environmental performance, accountability, and transparency. But that’s not all it takes to become a B Corporation. B Corporations not only earn profits but they look to make the world a better place through their efforts.

Companies like Numi Organic Teas, Abacus Wealth Partners, Better World Books, Care2 Online Communities, and close to 400 others have made a pledge to better the world through the way they do business and the trend continues to grow.

Like the B Corporation, another movement called Social Businesses has made efforts to give back as well. While there is no formal certification process involved with a social business, like there is with a B Corp., it does require the business to abide by the seven principles that Muhammad Yunus, founder of Grameen Bank, outlined:

1) Business objective will be to overcome poverty, or one or more problems (such as education, health, technology access, and environment) which threaten people and society; not profit maximization

2) Financial and economic sustainability

3) Investors get back their investment amount only. No dividend is given beyond investment money

4) When investment amount is paid back, company profit stays with the company for expansion and improvement

5) Environmentally conscious

6) Workforce gets market wage with better working conditions

7) Do it with joy

What's even more exciting is that this new movement in business has inspired a whole new generation of traditional companies to use their businesses to make a difference and give back.

Supporting worthy causes is one way a business can give back to the community that supports them. To show thanks to the Toronto area community, Deal A Thons (http://www.dealathons.com/) has pledged to give a percentage of our profits to the SickKids Hospital of Toronto (http://www.sickkids.ca/).

Also known as the Hospital for Sick Children (SickKids Hospital) it has been recognized as Canada’s most research-intensive and largest pediatric hospital. Dating back to 1875, the SickKids Hospital has dedicated itself to the care of Canada’s children and we are dedicated to seeing them provide help to as many children as they possibly can.

“Deal a Thons may not be a B Corporation or abide by all seven principles of a social business,” says David Magazzinich, CEO of Deal A Thons, but we understand the importance of giving back and are very inspired by these new business types that are making the world a better place. We will continue to support worthy causes to say thank you for supporting us.”

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Contact:
Aaron Elharar, Marketing
aaron@eedenlabs.com
310-497-6126

Each day at Dealathons we make it our mission to hunt down the best stuff in your city - everything from restaurants and stores, spas to special events and entertainment venues. We work with the best local businesses to offer you great deals at incredibly low prices. Dealathons will be donating proceeds from every sale to Sick Kids Hospital- one of Canada's leading childrens hospital. This gives us an excellent advantage in tracking down the best bargains, while giving you confidence that we're the "real deal!"