Some companies are both Certified B Corporations and benefit corporations, and the benefit corporation … Here's all you need to know about this exciting movement, and how to turn your business into a B Corp . Certified B Companies are a new kind of business that balances purpose and profit. 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. Certification requires a score of at least 80 (out of 200) against 5 areas of impact: Governance, Community, Workers, Environment and Customers. 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. What does B Corp mean? 150. If you have any questions about how the legal requirement for B Corp Certification applies to companies in the UK, please contact us at hello@bcorporation.uk. Home: B Work: the place to find jobs at companies that care about the planet, people, as well as profit. The Manufacturer’s Annual Manufacturing Report is the barometer for the UK manufacturing industry. New hires are increasingly looking to an organisation’s ethical credentials before they agree to take on a role. If your consumers, employees or investors are suggesting sustainability is informing their choices, make yours accordingly. For a conversation around B Corps, contact us. 3,608. We also hear a lot of confusion about the difference between a “B Corp” and a “benefit corporation.”. Certified B Corporations are social enterprises verified by B Lab, a nonprofit organization. B Corp certification requires thinking beyond profit in creating and delivering your organisational strategy. What do Ben and Jerry’s, Patagonia, Bulb, Propercorn, and Abel & Cole all have in common? Companies have to be recertified every two years, and if they fail to meet the set criteria, they lose their B Corp status. 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”. But for others it is an opportunity to achieve competitive advantage, as well as benefiting the wider world. 30 of the UK’s B Corps are management consulting firms – with smaller and boutiques being the only firms to take up the scheme so far. 4. We find leverage and spend o… Unifying Goal. The kinds of jobs you’ll love going to every day, where you can bring your whole self to work. In a B Lab survey, UK B Corps reported average revenue growth of 14% year-on-year since launch in 2015. Environmental, Social and Governance (ESG) is now a key element in company statements. In order to become B Corp certified, you have to be assessed by B Lab and meet the required standards. Complete the B Impact Assessment. © 2015 - 2020 PwC. In the Articles of Association you must include a commitment "to promote the success of the company for the benefit of its members and, through its business and operations, to have a material positive impact on society and the environment, taken as a whole". Status. It was originally derived from “benefit corporation”, a type of US corporate structure, but B Corp means many things to many people. The initial step is to complete an on-line assessment (B Impact Assessment). They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. These factors and an increasing number of B Corp acquisitions mean more and more business will look favourably on B Corp certification. Private equity houses too are coming under scrutiny. At the time of writing there are 2,778 B Corp organisations worldwide, in 60 countries. It can improve the saleability of an organisation too - Investors are also looking to bring diversity to their portfolios and there may be less due diligence required in a B Corp sale. If you have any questions about how the legal requirement for B Corp Certification applies to companies in the UK, please contact us at hello@bcorporation.uk. linktr.ee/BCorpUK. Find this article useful? Originally founded in the US, there are B Lab offices across Europe, South America, Australia and East Africa and each one is working to expand and support the community of … In 2012, Corporate Knights decided to … Danone is a standout example, working to become the world’s largest B Corp, with 11 certified subsidiaries (including Danone Dairy UK). Die Benefit Corporation (B-corporation) ist eine seit 2010 in vielen Bundesstaaten der USA eingeführte Unternehmensform, mit der Gemeinwohl und privatwirtschaftlicher Nutzen besser vereinbar gemacht werden sollen. Well, B Corp certified companies strive not only for profits, but but for the betterment of the world around them. Not only does charitable giving have benefits for society, a study reveals it could be good for business – with some businesses seeing a…, Technology in business moves so fast it can be difficult to keep up, with things only seen in science fiction 20 years ago now becoming…. We value and embrace diversity of identities, experiences, thoughts, needs, and approaches. So what does that mean in practice? B Lab certifies companies based on how they create value for non-shareholding stakeholders, such as their employees, the local community, and the environment. Industries. B Corporation UK. They’re a not-for-profit organisation headquartered in the USA with offices all over the world. Manager in Corporate Finance M&A ICAEW Chartered Accountant, PwC United Kingdom. They use ESG specialists to show their backers that their portfolios reflect positive standards and best practice. LEARN MORE ABOUT B CORPS The B in B Corp is open to interpretation. 18 talking about this. Workers and consumers demand that organisations do right by them and the wider world. Whether it’s giving back to the community through charity fundraising, or our dedicated team of people working out how we can minimise our impact on the environment – in ways both big and small – we’re driven to find new ways to support our workers, help others, and help preserve our world. Browse the B Corp community using the tool below or click here to find B Corps near you. February is B Corp month; a celebration for all the certified UK B Corps that are doing things differently. The Devon-based company scored 124.6 out of 200 in its first B Corp assessment, becoming the second highest-scoring food business overall in the UK … 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. In the UK, the B Corp community stands at around 360 companies, and includes well-known brands such as The Guardian, innocent, Patagonia, The Body Shop, and organic food pioneers Abel & Cole. “Simply Business was a great company to work with – and for such a large organisation we expected the process to take longer than 3 months.” said Kate. If you are looking for investment in the future it is worth considering now who you are targeting and their likely response to your B Corp status. Looking for the latest news and features to help you stay ahead? B All That You Can B! The B Impact Assessment evaluates how your company’s operations and business model impact your workers, community, environment, and customers. 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”. 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 & … “It just shows that if you are already measuring your impact on your people and the planet, then the certification process doesn’t have to take that long! We incorporate and dissolve limited companies. Propercorn, Pukka, and Obrigado are just a few you might have heard of that have pledged to ensure that their environmental and social performance is equal in importance as the financial success of the company. But as well as demonstrating your commitment, you also get access to a whole wealth of information and new opportunities. Simply Business - Insurance for your business. 6th Floor.css-v27edy{display:block;height:10px;}99 Gresham StreetLondonEC2V 7NG, Sol House29 St Katherine's StreetNorthamptonNN1 2QZ. Many clients ask us about becoming a B Corp and whether it’s right for them. The term B Corp stands for ‘B Corporation ’, and the people behind the B Corp certification are called B Lab. One thing is for certain; in 2018 the volume of discussion on B Corps increased significantly and investors and management teams will need to think through where they stand on B Corps. We register company information and make it available to the public. © Copyright 2020 Simply Business. Our Workforce of the future study highlights four work scenarios, including the “Green World”. Certified B Corporations. B Corp Certification is the only certification that measures a company’s entire social and environmental performance. Companies. For companies looking to certify as a B Corp in the UK, we have a step by step guide for amending your constitutional documents to include the B Corp legal language (the “ Legal Test ”). February is B Corp month, but what does that mean, and what exactly is a B Corp? With February as B Corp month, it gives B Corps the opportunity to talk about what makes them a B Corp, and the incredible and innovative policies and practices that they have, but often don’t get to shout about. In the UK alone there are now 160 Certified B Corporations. The benefit corporation is a legal structure for a business, like an LLC or a corporation. Once a firm crosses a certain performance threshold on these dimensions, it makes amendments to its corporate charter to incorporate the interests of all stakeholders int… Certification needs to be renewed every three years and there is an annual fee, which scales with revenue and starts at £500. B Corps are transparent about their operating practices and are held to a high standard of legal accountability. After completing this assessment, B Lab then assesses and verifies that your score meets the certification standards. Employees spend 10% of their work time in their local communities, adventuring outdoors, or doing service. Benefit corporations are legally empowered to pursue positive stakeholder impact alongside profit. Countries. We communicate frequently, collaborate thoughtfully, learn from, challenge, and celebrate one another and our work. 2. */ We live in a world where business needs to be part of the solution to our greatest challenges. For some, B Corp status could be seen as suppressing agility and restricting the ability to focus on profit. SUSTAINABLE 1. Is your organisation able and ready to have a change in mindset? Always take professional advice. All Rights Reserved. For the latest news and events about the community of Certified B Corporations Benefit corporations are legally empowered to pursue positive stakeholder impact alongside profit. This is a community of leaders, driving a global movement of … Whilst there is a growing community of investors who find B Corp status appealing it is still early days. You can read more about our efforts over at our social impact page. At B Lab, we pride ourselves on creating an inclusive and flexible workplace that allows all staff to flourish. Certified B Corporations are a new kind of business that balances purpose and profit. The accreditation recognises our strong track record of having a positive impact on people, society and the environment – and our commitment to do more in future. A commitment to the environment and society is increasingly on everyone’s agenda. Join Our Team. B Corp status is a long term commitment and needs to be resourced accordingly with the appropriate checks and measures in place. It was originally derived from “benefit corporation”, a type of US corporate structure, but B Corp means many things to many people. As part of this process, you meet virtually with the B Lab team to submit any confidential documentation and to sense check your responses. The B Corporation or “B Corp” is a certification issued by the organization B Lab Company to sustainable for-profit businesses that meet rigorous standards of social and environmental performance, accountability, and transparency. This is a community of leaders, driving of a global movement of people using businesses as a force for good. 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 & Cole. 3. For all it’s more and more important investments are diverse, inclusive and accountable. The B Corp values can be found at all levels of operation. As well as incredible conversations, last year’s retreat involved wild swimming, running, yoga and meditation – great ways to bond. 47 talking about this. The time taken to achieve accreditation varies with each organisation and its complexity, but the process typically takes four to six months. Unilever has also engaged strongly in the B Corp movement, owning 5 B Corp brands including possibly the most recognisable B Corp of all: Ben & Jerry's'. Toggle navigation Certified B Corporation. But, in the meantime, you can demonstrate your commitment to being a socially responsible business and engage as a “soon-to-B” peer with a community of more than 1,000 Certified B Corps. Browse the B Corp community using the tool below or click here to find B Corps near you. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. Are you considering becoming a B Corp? Our studies show that the UK consumer is becoming more cautious with their money. Tell us about your journey so far in the comments section below. 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. It was originally derived from “benefit corporation”, a type of US corporate structure, but B Corp means many things to many people. They make decisions that make a positive impact across their workers, customers, suppliers, community, and the environment. Kate says the best opportunity for B Corps to meet, share ideas and best practice, and to learn from fellow innovators is at the annual UK retreat. To buy from the B Corp community, head to the online B Corp Shop at Waitrose and Boots. Subscribe to our monthly newsletter and follow us on social media. Please see www.pwc.com/structure for further details. Many investors are also positively screening for B Corps to check a potential investment fits with their organisations values. As people who are part of an organization that seeks to create a shared and durable prosperity we are... INCLUSIVE 1. At the same time, Danone’s UK Essential Dairy & Plant-based business (EDP) – whose brands include Actimel and Activia – … Sustainability is now mainstream. B Corps make this legal change by updating their Articles of Association, reincorporating as benefit companies and benefit corporations, or making other structural changes. The B in B Corp is open to interpretation. 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. Updated: Jun 12, 2019 Published: Apr 30, 2019 . For companies looking to certify as a B Corp in the UK, we have a step by step guide for amending your constitutional documents to include the B Corp legal language (the “Legal Test”). Inc. called B Corp status “the highest standard for socially responsible businesses”. 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. 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. All rights reserved. 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. B Lab promotes mission-aligned legal structures like the benefit corporation in the USA, which joins the interests of business with those of society. Recognized as one of Fast Company’s 2020 Most Innovative Companies, our team at B Lab is innovative and enthusiastic about building an inclusive and sustainable economy.Our teams are all working remotely through the end of June 2021. 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. At the time of writing there are 2,778 B Corp organisations worldwide, in 60 countries. 1. Get the latest BBC News: breaking news, features, analysis and debate plus audio and video content from England, Scotland, Wales and Northern Ireland. Similar legal forms have also been passed in Italy and Colombia and are being proposed in several other countries, including the UK. If you have any questions about how the legal requirement for B Corp Certification applies to companies in the UK, please contact us at hello@bcorporation.uk. Some companies are both Certified B … An online community for certified B Corporations in the UK, and those interested in the B Corp movement. 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