We spoke to Kate Sandle, Community Manager for B Corp UK, whose favourite interpretation of B Corp comes from Ghandi – “Be the change you wish to see in the world”. Are manufacturers unlocking the full benefits of digital... We surveyed 162 PE firms and their investors to explore just how they were implementing and developing their responsible investment approach. In 2015 the initiative launched in the UK and there are now 193 B Corporations, including household names: Propercorn, JoJo Maman Bebe, Innocent drinks and Abel & … 2. We’ve broken it down so you can find out all about a new breed of companies working for more than profit – Simply Business included. The B Impact Assessment evaluates how your company’s operations and business model impact your workers, community, environment, and customers. B Corp Certification is the only certification that measures a company’s entire social and environmental performance. Well, B Corp certified companies strive not only for profits, but but for the betterment of the world around them. February is B Corp month, but what does that mean, and what exactly is a B Corp? We value and embrace diversity of identities, experiences, thoughts, needs, and approaches. She also likes that the B can mean “better” – so “better corporation” – which is what companies with B Corp status are aiming to be. How to become a UK B Corp. B Corporations – B Corps for short – are taking the business world by storm. B Corp is to business what Fair Trade is to coffee… They are businesses that give as much consideration to their social and environmental impact as they do to their financial returns. For a conversation around B Corps, contact us. If your business is brand new but you want to demonstrate your commitment to society and the environment, you can earn B Corp Pending status. We communicate frequently, collaborate thoughtfully, learn from, challenge, and celebrate one another and our work. Simply Business - Insurance for your business. linktr.ee/BCorpUK. You’ll need to score at least 80 out of a maximum 200, Make sure you meet the legal requirements and work on what amendments you can make if you don’t currently, Sign the B Corp Declaration of Interdependence and Term Sheet, making your status official, See how we're making a positive social impact, Simply Business staff raise £20,000 for Whizz Kidz as they trek the Alps. LEARN MORE ABOUT B CORPS B Corporation certification (assessed by the not-for-profit B Lab) is given to for-profit organisations who achieve at least a minimum score against a set of social and environmental standards. Many investors are also positively screening for B Corps to check a potential investment fits with their organisations values. The B Corp Certification is a third-party certification administered by the non-profit B Lab, based in part on a company's verified performance on the B Impact Assessment. Countries. Here's all you need to know about this exciting movement, and how to turn your business into a B Corp . Certification requires a score of at least 80 (out of 200) against 5 areas of impact: Governance, Community, Workers, Environment and Customers. The benefit corporation is a legal structure for a business, like an LLC or a corporation. It was originally derived from “benefit corporation”, a type of US corporate structure, but B Corp means many things to many people. We create this content for general information purposes and it should not be taken as advice. So when it comes to funding, B Corp status could be the deal-clincher. B Corps make this legal change by updating their Articles of Association, reincorporating as benefit companies and benefit corporations, or making other structural changes. Unifying Goal. Becoming a B Corp can have obvious benefits; like a positive impact on brand equity and greater recruitment appeal, but there are also some less obvious ones. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. 74. What does B Corp mean? Browse the B Corp community using the tool below or click here to find B Corps near you. Similar legal forms have also been passed in Italy and Colombia and are being proposed in several other countries, including the UK. Some companies are both Certified B … This is a community of leaders, driving of a global movement of people using businesses as a force for good. Certification needs to renewed every three years and there is an annual fee, scaled according to revenue and starting at $500. Join Our Team. Best Companies are specialists in workplace engagement & employee engagement. Simply Business received it’s B Corp accreditation in 2017, and we couldn't be prouder. For many, positive sustainability credentials gives your brand a competitive edge and keeps you on top of their mental shopping list. They exist to help companies be better – better for the world, not just for them and their shareholders. .css-1i7ddjg{color:#262626;-webkit-text-decoration:none;text-decoration:none;cursor:pointer;color:#007478;-webkit-text-decoration:underline;text-decoration:underline;}.css-1i7ddjg:hover{color:#007478;-webkit-text-decoration:underline;text-decoration:underline;}Read our full disclaimer. B Lab certifies companies based on how they create value for non-shareholding stakeholders, such as their employees, the local community, and the environment. They make decisions that make a positive impact across their workers, customers, suppliers, community, and the environment. B Lab promotes mission-aligned legal structures like the benefit corporation in the USA, which joins the interests of business with those of society. These factors and an increasing number of B Corp acquisitions mean more and more business will look favourably on B Corp certification. Get the latest BBC News: breaking news, features, analysis and debate plus audio and video content from England, Scotland, Wales and Northern Ireland. Benefit corporations are legally empowered to pursue positive stakeholder impact alongside profit. The benefit corporation is a legal structure for a business, like an LLC or a corporation. As B Corporations will need to take decisions not necessarily around profit maximisation, investors are rightly cautious that such a certification could inhibit growth and flexibility (a commonly cited perceived tradeoff is cost base vs ethical supply chain). We spoke to Kate Sandle, Community Manager for B Corp UK, whose favourite interpretation of B Corp comes from Ghandi – “Be the change you wish to see in the world”. It can drive performance - in a B Lab & Ella’s Kitchen survey UK B Corps reported an average growth rate significantly higher than the national average. Complete the B Impact Assessment. Die Benefit Corporation ist ein Rechtsstatus, der durch bundesstaatliches Recht in den USA verliehen wird. Industries. It was originally derived from “benefit corporation”, a type of US corporate structure, but B Corp means many things to many people. February is B Corp month; a celebration for all the certified UK B Corps that are doing things differently. At the time of writing there are 2,778 B Corp organisations worldwide, in 60 countries. The term B Corp stands for ‘B Corporation ’, and the people behind the B Corp certification are called B Lab. An online community for certified B Corporations in the UK, and those interested in the B Corp movement. Companies. Workers and consumers demand that organisations do right by them and the wider world. B Corp certification guarantees that a business is measuring its environmental and social impact and B Corps commit to transparency by publishing their score online. It is to businesses what Fair Trade is to coffee. The benefit corporation is a legal structure for a business, like an LLC or a corporation. Certified B Corporations are a new kind of business that balances purpose and profit. They’re a not-for-profit organisation headquartered in the USA with offices all over the world. Certified B Corporations are social enterprises verified by B Lab, a nonprofit organization. 47 talking about this. Sustainability is now mainstream. Certification needs to be renewed every three years and there is an annual fee, which scales with revenue and starts at £500. The B Corp values can be found at all levels of operation. Employees spend 10% of their work time in their local communities, adventuring outdoors, or doing service. For the latest news and events about the community of Certified B Corporations Certified B Corporations. For all it’s more and more important investments are diverse, inclusive and accountable. About B Corps; Certification; B Economy; For B Corps; B Corp Directory; B Corp Way; SDG Action Manager; COVID-19; A Global Community of Leaders. Certified B Corporations are a new kind of business that balance purpose and profit. 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