Proposal No 4
The creation of a new type of business: mission-based companies
Mission-based companies, often referred to as “benefit corporations”, began to appear in the United States in 2010. This new type of company sets itself apart from traditional companies by focusing on social and environmental progress in addition to financial profitability.
Thirty-seven American States, including California, New York, Texas and Delaware, have formally recognized these companies in their laws. In June of 2020, British Columbia was the first Canadian province to create a legal status for these Canadian companies.
A Quebec Liberal Party government will create a legal status for mission-based companies in Quebec.
After that, we will also commit to promoting the development of those companies, including through tax incentives and access to public markets by giving them automatic access to an accelerated qualification.
In the long run, the creation and promotion of mission-based companies will accelerate Quebec’s economic transition toward a more equitable and sustainable economy, in addition to encouraging business retention and start-ups by a new generation.