Benefit Corporations
1:55 pm
Tue January 14, 2014

Social Entrepreneur Supporters Lobby Connecticut Lawmakers to Recognize B-Corps

Kate Emery of The Walker Group speaks before the Commerce Committee.
Credit CT-N
Credit Jupiterimages/Creatas / Thinkstock

Supporters of social entrepreneurship are once again lobbying lawmakers to create a new business structure in the state. They want Connecticut to pass a law allowing social enterprises to register as B-Corps, or benefit corporations. That would set them apart from other business entities that don't have a declared social mission. 

The Hartford-based Social Enterprise Trust, or reSET, is lobbying for legislation to be introduced in the upcoming session to create the new designation. They planned a march on Tuesday before a public hearing at the Capitol.

Similar legislation failed to pass last year after it ran out of time.

reSET founder Kate Emery told a meeting of the legislature's Commerce Committee that supporting B-corps will attract new investors into Connecticut. Nineteen other states currently have legislation allowing the formation of B-corps.

Governor Dannel Malloy has said that he will introduce legislation during the upcoming session of the General Assembly. "By creating a new corporate identity," he said in a statement, "Connecticut entrepreneurs can start businesses that compete in the private sector while also working to solve the toughest social and economic problems that our communities face."