A PBC stands out in the for-profit business landscape, bringing a unique flair – it’s equally committed to societal benefit as it is to profit-making. Unlike a typical C Corporation, whose main focus is to maximize shareholder value, a PBC embraces a broader purpose. Its strategic choices are made with an eye on everyone involved – shareholders, employees, customers, local communities, the environment, suppliers, partners, and society at large. PBCs blend the pursuit of profits with a zest for creating positive impacts, proving that serious business goals can coexist with fun and positivity!
Deloitte (the big four global accounting firm) conducted research that highlights the effectiveness of purpose-driven companies, akin to PBCs, in the business landscape. According to their findings, companies that integrate societal benefits into their business models not only achieve higher growth rates and market share gains but also enjoy a significantly higher level of employee loyalty compared to their competitors. Remarkably, these organizations report 40% higher workforce retention, demonstrating the strong impact of a socially responsible business approach.