Edited by Torino Social Impact

Policy & Practice

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10 December 2021

Italy: ten million for benefit companies

torino social impact

A new policy to support benefit companies in Italy has been launched. Last November, Minister Giancarlo Giorgetti signed the implementing decree that promotes the establishment or transformation into benefit companies of companies present on the national territory.

These are entrepreneurial activities which, in addition to pursuing economic purposes, operate in a responsible, sustainable and transparent way towards people, communities, territories, environment, assets, cultural and social activities, entities, associations and other stakeholders.

For the policy, the Ministry of Economic Development makes a total of 10 million euros available, of which 7 million for the tax credit while 3 million are aimed at promotional activities. Not a big amount, but a good start.

“As the tradition of Italian entrepreneurship demonstrates, competitiveness and the creation of quality products comes from a process that leads to the rediscovery and enhancement of one’s identity linked to the territory”, declares Minister Giorgetti who adds: “the benefit companies represent that business model that we must promote and support precisely because it integrates the search for profit with a strategy that is attentive to social aspects, such as the common good, the environment and the local community “.

In particular, a contribution has been made in the form of a tax credit in the amount of 50% of the costs of setting up or transforming into a benefit company, including notary and registration in the register of companies as well as expenses related to professional assistance and consulting. The maximum benefit that can be granted to each beneficiary cannot exceed the amount of 10 thousand euros.

There are several large companies and companies that have decided to make this transition, in recent days also Reale Mutua, historical member of Torino Social Impact and giant of the insurance system, has become a benefit company, integrating the purpose of having an impact into its corporate purpose positive on society and the biosphere.