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If you've heard a lot of buzz about B Corps and are curious about what they are, why they matter and how your business can get on board, you're in the right place.
Let's break it down together in a straightforward, no-nonsense way.
What is a B Corp?
A ‘B Corp’, short for ‘Certified B Corporation’, is a for-profit company that meets high standards of social and environmental performance, accountability and transparency. Think of it as a stamp of approval that says, "This business is committed to being a force for good." It's not just about turning a profit; it's about balancing profit with purpose.
Companies like ice cream makers Ben & Jerry's and outdoor gear brand Patagonia are well-known B Corps, but even the smallest businesses can achieve this certification.
Why Does B Corp Certification Matter?
In today's world, consumers, employees and investors increasingly favour businesses that demonstrate a commitment to making a positive social and environmental impact.
Becoming a B Corp can help your small business build trust by showing customers and partners you're serious about making a difference. It can also attract talented people looking to work for a company that aligns with their personal values.
The community is growing in the UK, with over 2,300 certified B Corps.
Is It Practical for Small Businesses?
Absolutely! While the process requires some time and effort, many small business owners find that becoming a B Corp aligns better with their values and goals than it would for a large enterprise.
Besides the benefits of securing a certification, the application process can help you identify areas for improvement. The B Impact Assessment is tailored to your company's size, industry and location, making it relevant to everyone.
What's Involved?
The journey to B Corp certification involves a few key steps:
1. B Impact Assessment
This free, confidential online tool evaluates your company's impact on governance, workers, community, environment and customers. You must score at least 80 out of 200 points to qualify.
2. Legal Requirements
You must amend your company's documents to include a commitment to consider all stakeholders - not just shareholders - in your decisions. This means considering the impact on employees, the community and the environment.
3. Verification
After completing the BIA and meeting the legal requirements, you'll submit your assessment for review. B Lab, the non-profit organisation behind the B Corp certification, will verify your score and conduct a background check. Once certified, you'll need to recertify every three years to maintain your B Corp status.
B Corp Tips for SMEs
1. Have Some Patience
The certification process can take up to 10 months. Use this time to make meaningful improvements to your business operations and get your team engaged with the project.
2. Use the Resources
There are guides and resources designed for small companies to help you navigate the certification process.
3. Connect with B Corps
Reach out to certified businesses to learn from their experiences of the process and get some valuable insight.
Becoming a B Corp is a journey, not a destination. It's about continuous improvement and committing to using your small business as a force for good. If this resonates with you, why not take the first step?
Time to Go Green?
Many B Corps focus on reducing their carbon footprint, so you should consider switching to a business energy supplier offering green tariffs.
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