Posted February 19, 2010 by Kerri Golden
This white paper is part of a series that explores the opportunities and challenges supporting the growth of social ventures in Ontario. One identified challenge is the lack of a hybrid legal structure for social ventures in Ontario similar to structures introduced in the UK and the US to promote the growth of these social ventures in those market places.
In recommending a new legal structure for Ontario, this paper focuses on three objectives: Increase capital directed at the community for delivering social and/or environmental benefits; simplify and clarify the legal structures and permitted activities by creating a new form of organizational vehicle; and provide a brand for social enterprise, social finance and community benefit, thus providing legitimacy and enhanced profile for such activities. The last two objectives will facilitate raising capital, which can benefit the community.