The State of Entreprenuership
A monthly email highlighting notable events, programs, and announcements regarding entrepreneurship in Indiana. Subscribe here.
July 30, 2015
A New For-Profit Business Entity for Indiana
Corporations are required by law to maximize profits for shareholders. In other words, when company resources are used to support social causes, and the results do not directly improve the company’s bottom line, the shareholders are justified to challenge the corporate leaders’ actions. Last month, Governor Pence signed into law a new form of corporations, Benefit Corporation. This new corporate structure allows a business to consider a social or environmental cause just as important as their profits. Incorporating as a benefit corporation legally protects a founder’s impact goals. How? They give the directors the secured legal protection necessary to consider the interest of all stakeholders, rather than just the shareholders. Interested in learning more about Benefit Corporations? Email our Ombudsman for more information.
Wanted: Small Business Policy Ideas
Last year, Indiana was ranked 8th in the Small Business and Entrepreneurship Council small business policy index. It’s our goal to continue climbing the ranks. The State of Indiana is currently seeking entrepreneurship and small business policy ideas, which may or may not require legislation in 2016. Have thoughts on how Indiana can better support business creation and growth? Please share it. No ideas are too big for consideration. Please, feel free to email me directly.
Indiana Companies to Watch welcomes its Next Class
This month, Lt. Governor Ellspermann announced the eight class of Indiana Companies to Watch. In total, 20 companies from 11 counties were selected for this honor. Companies to Watch applicants are not only evaluated by examples of historical high performance and use of innovative processes to gain their position, but they are also evaluated on signs that they are positioned and motivated to continue their growth. This class of 27 awardees have combined revenue in excess of $196 million and created more than 148 jobs this year alone. To honor these companies, the Indiana Companies to Watch program is hosting a gala, where historically over 300 economic development leaders join us in congratulating the incoming Companies to Watch class. Care to join? Tickets for the August 27 ceremony and dinner are available online at http://inctw.org or by calling 317.232.0160.
I look forward to sharing the State of Entrepreneurship next month and to continue to assist Indiana entrepreneurs to start stronger, grow faster, and work smarter.
ISBDC State Director
OSBE Executive Director