You work hard every day. You pay your employees well, contribute to your community in real terms, and offer a product or service that’s actually beneficial for people. Are you looking for a way to highlight the positive impact your company makes? Consider getting certified as a B Corporation (or B Corp, for short). Earning your B Corp Certification shows the world that your company has sound business practices, a sustainable supply chain, and that you are consciously contributing to the greater good.
The B Corp Certification has gotten much visibility over the last several years, with companies such as Patagonia, American Express and Allbirds among other high-profile B Corps. Increasingly, small businesses are also becoming B Corp certified. Regardless of your company’s size and legal status (this can even include a sole proprietorship), you may be eligible to become a B Corp – it just takes some introspection about how your company conducts business and a commitment to the application process. Yes, there is a fee associated with the certification, but it’s based on your company’s revenue (and is reasonably priced).
The following is our introductory guide on the benefits of B Corp Certification. In our next post we’ll outline the process for getting B Corp certified.
What is B Corp Certification?
First, a definition:
Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy. B Corp Certification doesn’t just evaluate a product or service; it assesses the overall positive impact of the company that stands behind it. And increasingly that’s what people care most about.B Corp Website
B Corp Certification is granted by the nonprofit organization B Lab, headquartered in Pennsylvania. As this is the only organization to issue the B Corp Certification, B Lab will be your go-to resource as you research the certification and apply – although the team at Clean Power Marketing Group is always happy to assist along the way.
Why should your business apply for B Corp Certification?
B Corp Certification indicates to your customers, employees and partners that your company has high standards of accountability as determined through the B Lab’s independent assessment. In adhering to these standards, your company will enjoy many tangible and intangible benefits. Below are just a few of the benefits (but not all):
- Don’t just survive, thrive: Companies that have a mission to serve tend to do better in the long term, even small businesses. Certified B corporations have demonstrated an annual survival rate of 90-99 percent compared to the 69 percent average among small businesses in the United States, according to recent studies.1
- Attract high-caliber talent: More and more of the workforce makes decisions about where to work based on the mission of the employer and the potential for impact on the world. There’s no better way to attract and engage mission-aligned talent than to amplify your values with B Corp Certification.
- Develop deep connections: One of the main benefits of B Corp Certification is the network of strategic business partnerships that develop. The B Corp community is a tremendous resource for new ideas and collaborations that would not otherwise be available to your company.
- Expand your impact: B Corp Certification indicates to investors and business partners the high level of transparency and adherence to best practices your company utilizes. Some investment groups only invest in socially responsible companies, so the dividends can be quite literal indeed.
In our next post, we’ll walk you through the steps to earning B Corp Certification. Sign up for our e-letter to get it delivered to your inbox.
By Zubin Segal and Nancy Edwards
Images Courtesy of B Lab