Social Entrepreneurism on the Rise as Philanthropists Seek Dollars for "Do-Gooding"
BizFilings Sees More Start-Ups Putting Profits to Good Use Through Cause-Based Business Incorporation
MADISON, Wis. (March 23, 2010)
A relatively new small business trend, social entrepreneurism, is turning traditional Capitalism on its head as small business owners apply business best practices to create social value rather than generate profits. BizFilings.com, a website dedicated to helping entrepreneurs and small business owners make their dreams a reality, has seen a recent surge in social entrepreneurism.
"We're seeing more and more of our start-up entrepreneurs forming cause-based businesses," says Karen Kobelski, general manager of BizFilings. "While far less typical, more and more entrepreneurs are looking to turn their non-profit interests into for-profit ventures; one of our favorites is Cheeky Monkey Jewelry, an LLC committed to saving the earth and helping animals through the creation and sale of its jewelry. BizFilings is committed to helping these individuals help themselves and their communities through the power of social entrepreneurialism."
"When we first developed our business model, we had no clue as to whether we should incorporate or not, it’s a very confusing subject especially when you’re forming a cause-based business," says Simon Cardwell of Cheeky Monkey Jewelry. "BizFilings helped educate us regarding our options, and when we did decide to incorporate, its online service took us through the process step-by-step. Not only did we save money by not hiring a lawyer to incorporate, BizFilings helps make sure we stay on top of ongoing requirements to stay compliant throughout the year."
For more information about Cheeky Monkey Jewelry visit www.CheekyMonkeyJewelry.com.
For entrepreneurs considering launching a cause-based business or other social for-profit venture, BizFilings offers the following tips on how to get the process started.
Five Tips on Starting a Cause-Based Business:
- Like any business, develop a business plan: Being able to show a lender your plan is key to getting a loan, especially if you’re operating in a traditional non-profit sector.
- Consider incorporating: Incorporating can help protect your personal assets and may help your new business establish credibility with potential customers and business partners.
- Select an accountant or an attorney: As you’re taking the road less traveled, you’ll want advisors familiar with your unique business situation.
- Investigate additional insurance and government regulations: Businesses face a number of government and insurance requirements, particularly if the business has employees.
- Establish a line of credit: Establishing a credit line can help lessen the number of times your new business will be required to prepay for the products and services it purchases.
To learn more about the benefits of becoming a social entrepreneur, visit the BizFilings website at www.BizFilings.com.
BizFilings is a full-service online incorporation service provider, offering small business owners
a fast, easy and economical way to form a corporation, limited liability company (LLC) or other
business structure online or by phone. BizFilings also offers a full range of business filing and
compliance products, including nationwide Registered Agent service, helping keep businesses in
compliance with state regulations. BizFilings can be found online at www.BizFilings.com.
BizFilings is a part of Wolters Kluwer (www.wolterskluwer.com), a leading global information services
company. Wolters Kluwer had 2009 annual revenues of €3.4 billion ($4.8 billion/£3.0 billion), employs approximately
19,300 people worldwide and maintains operations in over 40 countries across Europe, North
America, Asia Pacific and Latin America.