What is a B Corporation?
A certified B Corporation (B Corp) refers to businesses that meet the certain social and environmental standards in relation to fair wages, workplace culture, climate action, and environmental stewardship. A business must score at least 80 on the Impact Assessment (BIA) (which measures a company’s environmental and social performance) and be making a positive difference socially and environmentally. A B Corp certification is comparable to the Fair-Trade certification as they both express their commitment to social impact and sustainability. Both certifications are also sought out because those businesses who are certified are shown to be more profitable in the long-term.
Why B Corp certification adds value to your business
Once a business has received this certification from B Lab, they are setting the benchmark for other companies as they position themselves ahead and are more valuable in the eyes of consumers, stakeholders, and communities. Whilst most B Corps are small and medium sized enterprises (SMEs), there has been a growing interest from larger companies to obtain this certification. Therefore, it is recommended for SMEs to pursue a B Corp certification, as it offers numerous benefits. The primary advantage being the ability to build trust with consumers, stakeholders, and the wider community. You can also future proof your business by keeping up to date with market trends and staying ahead of regulations, this is done by incorporating sustainability into your business objectives.
