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Author, attorney, podcast host and startup guru Neetal Parekh recently published her book 51 Questions on Social Entrepreneurship. She’s shared three of the best insights with me for this article.
Neetal, founder of Innov8social, offered up these three keys:
Legal Structures: There are legal structures and business models and fundraising options specifically designed for companies pursuing profit and social impact. For example, legal formation options such as benefit corporation and social purpose corporation and successful business models such as “1 for 1” and “sliding scale.”
Timing: We are in a unique moment of timing where there is a shift in consciousness happening both in the new millennial workforce as well as in the desire of serial entrepreneurs to engage in businesses that create social impact. Additionally, new funding opportunities (such as those provided under the JOBS Act) though not specifically designed for em…