Sole proprietorships, general partnerships and corporations aren’t your only options when you’re considering the right structure for your business.
If you’re exploring social entrepreneurship, you may have heard of Co-operatives, Community Contribution Companies (C3 or CCC), Not-for-Profit Societies and Charities, but how do they differ and which one is right for you?
Read more to develop a basic understanding of each type and find out where you can learn more.

[su_spacer=”10″]1. Co-operative

Co-operatives are businesses owned by a group of people that pool their resources together. BC Tree Fruits is an example of a local co-operative that includes over 430 grower families.

• Interested in learning more? Connect with Co-operatives First. They are a not for profit organization that provides information about the co-operative model, relevant examples of successful co-ops, insight on governance, and more. They are based out of Saskatchewan, but they are mandated to support us here in BC.

[su_spacer=”10″]2. Community Contribution Company (C3)

Ever heard of a C3 company? This is a new business model available in BC which is designed for businesses that generate profits while serving a social mission.

• Interested in the C3 model? Find answers from the Ministry of Finance.

[su_spacer=”10″]3. Not-for-profit (Society)

Not-for-profit organizations are known as Societies. They are usually formed to work toward solving a social problem. If your sole business goal is to work towards a social mission, then a non-profit society might be right for you. Women’s Enterprise Centre is a not-for-profit that helps women entrepreneurs!

• Find out more information about the BC Societies Act, and through the Province of BC.

[su_spacer=”10″]4. Charity (Status)

Again, if your business has a social mission, you may want to consider becoming a registered charity. This business model has different benefits like being able to issue tax receipts and being eligible for tax rebates.

• Learn more about obtaining charity status, and about the different charity structures, through Canada Revenue Agency.

[su_spacer=”10″]Next Steps

Still unsure about which business structure is right for you? Contact us and we can provide advice and referrals.