The Ministry of Government and Consumer Services is conducting a consultation on a potential framework for social enterprise legislation (also known as dual purpose legislation or hybrid legislation) where the goal is to enable social good and private profit through private sector investment.
This is an issue that affects the nonprofit sector and ONN encourages you to share your voice. Hybrid Legislation is complicated and has implications for the work of the nonprofit sector and its ability to provide social good and build community wealth.
The current public consultation asks two questions:
1. Should we have a hybrid corporate structure in Ontario? and
2. If yes, how should the hybrid corporation be structured?
ONN has answered NO to the question of whether we should have hybrid corporations.
Based on our research, ONN does not believe that hybrid legislation will significantly address the challenges faced by social enterprise, promote social innovation or attract significant capital investment for social good.
Click here to read ONN’s submission and their feedback form for the public consultation.
So, what can you do?
This is an important issue with far reaching implications for nonprofits. ONN urges you to take the opportunity to provide your views and feedback before May 4, 2015. They’ve created an easy-to-use template to add your voice.
3 ways to get involved:
http://theonn.ca/what-we-do/constellations/social-enterprise/take-action-on-proposed-hybrid-legislation/
Want to find out more? Have thoughts or questions? Join us for ONN’s Hybrid Legislation Webinar this April 15, 2015 from 12-1 pm. Find out more.
