Purpose Economy: soulbottles belongs to itself
Here you can find out what the ownership structure at soulbottles is all about.
Why Purpose Economy?
When soulbottles was founded in 2012, the purpose of the company was clear from the start: to reduce plastic consumption through mineral water in plastic bottles and to give people access to clean drinking water. But who actually ensures that soulbottles remains true to this social entrepreneurial orientation in the future? What if the company is inherited one day and the new owners place less value on social responsibility due to financial interests? We asked ourselves these questions and looked for a way to secure soulbottles' purpose orientation in the long term. In doing so, we came across the Purpose Foundation.
The Purpose Foundation
The Purpose Foundation is an international organization that supports companies in remaining permanently independent and purpose-oriented. It not only has an advisory function, but also makes it possible to anchor the independence and value orientation of a company in a legally binding way in the ownership structure. This is ensured by transferring a share of the company to the Purpose Foundation. This gives the foundation a right of veto if the company seeks to make a decision that harms the realization of the company's original purpose. In our case, for example, the Purpose Foundation would intervene if we were to change our social entrepreneurial orientation.
In addition, the Purpose Foundation also has a right of veto when it comes to decisions such as the distribution or use of profits. Profits may not be paid out to external shareholders, but must always be reinvested in the company's purpose. This ensures that the company remains true to its original purpose and is not tempted to align its corporate activities with profit maximization for shareholders. This makes the purpose economy an important concept on the way to a new way of doing business.
The Responsible Ownership Foundation
In German, purpose companies are also referred to as responsible ownership companies. While the Purpose Foundation is an international organization, the Responsible Ownership Foundation was also founded in Germany on November 25, 2019 - to better network responsible ownership companies. soulbottles is a founding member and has been there from the start. Together we are calling for better legal framework conditions for the implementation of responsible ownership.
Responsible ownership at soulbottles
soulbottles has owned itself since June 2018 - but what exactly does that mean? While soulbottles was originally owned by the founders Paul and Georg, soulproducts GmbH, i.e. the company, now belongs to the employees and is neither for sale nor inheritable. Marian (a soulbottles veteran) on the step to becoming a purpose-driven company:
In order to legally represent responsible ownership, we founded soulmates GbR. A civil law partnership that enables us to transfer 0.4% of our company's shares to the Purpose Foundation - so that, as mentioned above, it has the opportunity to exercise its right of veto when it comes to our strategic direction. 97.6% of the voting rights are held by soulbottles employees.
self-determination
Are you wondering what it actually means that the company belongs to us, the employees? This means that control over the company is distributed among many people and we decide together where it should go in the future. According to our company statutes, control over strategic decisions lies in the hands of the people who have an employment contract with soulproducts GmbH.
asset retention in the company
What is important to understand the concept: For us, profits are not an end in themselves, but a means by which we achieve our corporate purpose. All investment decisions are based on this corporate purpose and are therefore socially and ecologically oriented. For example, with the soulbottle steel, we have not only invested in the development of a sustainably produced outdoor drinking bottle, but also in improving working conditions on site .
