The Northeast Oregon Economic Development District (NEOEDD) and Benefit Corporations for Good (BCG) provide a special opportunity to learn about creating or converting to an Oregon benefit company with a workshop on Wednesday, Mar. 20, at noon at the "IGNITE" E-Center, 104 Depot St. in La Grande, and then at 6 p.m. at Launchpad Baker, 2019 Main St. in Baker City, and simulcast at the Enterprise City Library, 101 NE 1st St. (back entrance). The evening program also includes a presentation by attorney Kim Mosier.
Benefit companies are a growing business movement to build healthy and equitable communities. Entrepreneurs of all ages and companies of all sizes are discovering how to positively impact the world while making a profit. The movement focuses on what is called the “triple bottom line,” or People, Planet, and Profit, meaning a company should treat its employees well, run a business that is not exploiting human or natural resources, and also be a viable business. These companies are called Benefit Companies, Benefit Corporations and B Corps, and they operate under different rules than other businesses.
New or established LLCs or C Corps can become a Benefit Company. Currently, more than 1,400 businesses have registered as a Benefit Company in Oregon. In this hands-on workshop, BCG’s Tom Hering will provide an overview of the benefit corporation model and then:
Review the state’s requirements and the process for becoming a Benefit Company
Use a simple assessment tool to help participants determine whether their business and leadership style make them a good candidate for this business model
Provide the forms and language needed to become or amend status as a Benefit Company
Share options for certification by a third-party reviewer to differentiate a business as a Benefit Company
Discuss strategies to leverage a business’s status as an Oregon Benefit Company
Mosier will address business structure pros/cons, considerations for property ownership, considerations if you have a business partner, reducing risk within your business, when a business should engage an attorney, and what to look for when hiring an attorney.
The Northeast Oregon Economic Development District’s mission is to provide resources and facilitate quality decision-making for the benefit of entrepreneurs, businesses and communities in Baker, Union, and Wallowa counties. Learn more about its programs and business support at www.neoedd.org.