To B or not to B Corp?

Posted by | May 31, 2022 | Do Good Chats, Employers, Market updates

B Corp blog header

By Sarah Firth

Never heard of B Corp Before?

What is it? B Corp Certification is a rigorous certification demonstrating that your business is meeting high standards of performance, verified by transparency and accountability requirements. B Corp certification measures a company’s entire social and environmental impact.

Who is it for? For companies already practicing responsible business, and who want to commit to playing a part in economic systems change and driving continuous improvement. https://www.bcorporation.net/en-us/programs-and-tools

 

Why should I consider becoming a B Corp?

  1. The amount of businesses becoming B Corps are growing (just check your LinkedIn feed). Soon you will be standing out for the wrong reasons if you aren’t B Corp certified – especially if you present yourself as a climate friendly or green business that prides itself on its social and/or environmental performance
  2. Employee retention and attraction- As a Do-Good Employers you know how important it is to employees and potential candidates that an employer fits with their values and beliefs. Show that you are on board for social change and ethical, sustainable business practices.
  3. The Cultural benefit of your whole company going through the certification process together, or seeing it. Your organisation can work together both at the assessment stage, and in keeping good practices going
  4. Supply chain demand- increasingly suppliers are looking carefully at who they do business with, and B-Corp certification is a great way to communicate your values
  5. The B Corp certification is a display of a Do Good organisations mindset and intent and is not just aspirational, it is definitely achievable, for small businesses to large organisations

 

How??? The Nuts and Bolts:

  • B Corp standards are compiled in the B Impact Assessment, where firms can voluntarily input their current social and environmental portfolios
  • You are assessed in 5 areas – governance, workers, community, employment and environment
  • 80/200 points is a pass. The median score for an organisation on their first try is 50 points
  • There are actually 70 assessments, the one you do is based on the businesses size/scale and geographic location
  • Annual fee starting at $1500
  • Triennial recertification process

 

Once I have the certification, what happens?

The B Corp community sounds pretty awesome and I can see how being a part of a community that has been through the certification process could help your business grow and learn. There are three B Local groups in Aotearoa which host ‘B Corp Curious’ events where socially-minded entrepreneurs can work together to take on the B Impact Assessment and help other B Corp Curious friends along the way. 

B Corp also has tri-annual recertifications which help organisations stay on track to improving their impact.

 

Can a charity be a B Corp?

Yes, Maybe. It depends on your structure.

If a charitable organisation has a social enterprise arm that trades for revenue you may be eligible for B Corp certification. If you rely on donations, grants and bequeaths you will probably not be able to get B Corp certification, if you want to be absolutely sure, we recommend that you get in touch with B Lab to find out.

 

 

About Sarah Firth

Sarah enjoys helping others turn their ideas into action by coaching them towards clarity and confidence.

When she isn’t coaching or teaching mindfulness, Sarah is with her family and friends in the beautiful Martinborough.

If you would like to know more, head over to her website www.sarahfirthcoaching.com or send her a message to [email protected]  for a free discovery call.

Tags: ,

Leave a Reply

You must be logged in to post a comment.

X

Menu