A Case Study of the Economic, Social, and Environmental Impacts of BIC Companies in Peru

In recent years, there has been growing concern about economic, social, and environmental challenges that are developing throughout the world. In response, there have been calls for the implementation of more sustainable practices in the business environment that respond to the needs of the population and also guarantee economic benefits. The Collective Benefit and Interest Company (known by its Spanish acronym BIC) is a model born out of these demands. It seeks to develop tools to solve environmental and community problems through everyday business activities. It is found that many of the Peruvian BIC companies emerged due to indifference and lack of support from the government for vulnerable populations. We analyze and compare the situational context of the legal framework of the BIC Law in the region and the challenges of implementation in the regulatory frameworks of these countries. Furthermore, we look at how this can be adopted by developing countries to achieve a greater global and regional impact. The research methodology is based on a documentary and case study review of the creation of BIC companies in Peru.