Collaboration is the key for many social entrepreneurs. But the reality is that businesses still compete. What if you compete to be the best FOR the world? That’s the key to this article. We dive into all the B Corporation certification benefits, made easy to understand so you can get straight to the point! B or not to B? We say YES!
B Corp is not just a certification. It is a movement where a collective of individuals and corporations “use business as a force for good”. Where businesses use the power of markets to solve social and environmental problems. What we like to call “Social entrepreneurs”.
Those businesses who earn the B Corp certification are supposed to meet the highest standards in the following key areas:
- Social and environmental performance
- Public transparency
- Legal accountability
The whole idea of B Corp is to build a new economy, that is more inclusive and sustainable. Easily explained, a disrupting industry to serve the poor and fight for the future of our planet.
B Corp believes that through the power of their collective voice, one day all companies will compete to be best FOR the world. And most importantly, this certification helps consumers to identify which are the brands and businesses who are doing GOOD.
So here are the benefits your GOOD business could get by getting a B Corp certification, for you to scale and get the push you deserve!
- Lead a movement: the B Corp has grown to become a global movement to redefine success in business. Where businesses serve not only the shareholders but is also responsible for the social and environmental impact.
- Pass Legislation: become a precedent, where governments can focus on your business as a GOOD example to create new legislation around sustainability.
- Benchmark performance: the B Corp certification will help you to become a more sustainable business. The B Impact Assessment and the B Audit will make you find critical aspects you should focus on to improve regarding sustainability implementing it right in the structure of your business. You continuously test yourself so to see opportunities to strengthen and becoming more meaningful.
- Save money and access services: getting a B Corp certification will allow you to access to technology and talented expertise in very diverse areas to save money and efforts.
- Protect your mission: once you meet the legal requirement for B Corp certification your business gets legal protection and expansion of the rights, where the decisions made will satisfy the interests of stakeholders as well as the shareholders.
- Partner with Peers: every year, the B Corp community comes together for a global gathering. The B Corp Champions Retreat is held in a different city each year to celebrate the collective success, as well as getting to know other like-minded for you to partner and grow together.
- Differentiate from pretenders: earning a B Corp certification will help you to prove that the efforts you make towards sustainability, and get away from potential competitors who use “greenwashing” techniques. You will tell the world that for your product and service is transparent and benefits for the society and the environment.
- Attract Investors: investors are continuously looking for potential companies to give and make money. And many are out there also seek to make a difference for GOOD. Since your business proves a built-in sustainability structure, you can determine that their standards are met.
- Generate press: B Lab continuously publishes articles about individual B Corps on Care2 (http://www.care2.com/), the largest online community empowering people to lead a healthy and green lifestyle. Reaching over 19 million people who are willing to take action on important causes such as human rights, animal welfare and global warming.
- Attract and engage talent: according to Harvard Business Review, about a 50% of the global workforce wants work that connects to a larger purpose. Since your company will be positioned as B Corp, you will attract highly skilled, and more importantly, engaged people who will love to be part of your corporation.
- Participate in an Ad campaign: the platform leads campaigns to include print ads, special editions, in-store and online retail promotions. Also, the BtheChange.com website, which keeps inspiring individuals to join the movement and support their favourite B Corps. Your story featured will give you access to the community of 24+ Million followers, and more important, will inspire others to join the movement.
- Sustainability built in your DNA: as you grow, you will be able to continuously check on the base and structure to make sure you meet the sustainability standards with the support of such a big platform and other potential partners. This will ensure that your mission can better survive new management, new investors, or even new ownership.
Today, there is a growing community of more than 2,100 Certified B Corps from 50 countries and over 130 industries working together toward 1 unifying goal: to redefine success in business.
How can you become a B Corporation? Here’s an easily explained infographic to earn a B Corporation Certification Step by Step:
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