Renewed Collective

What is a B Corp? And should all businesses strive to become one?

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 Corp companies are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy.’

How did B Corp begin?

The B Corp movement started in 2006, by three friends who were passionate about helping companies improve their positive impact. After leaving their careers in business, they created this organisation to assist mission-driven companies and create a community where the focus is not just on their ability to generate returns, but also create value for their customers, employees and the environment. 

The B Corp Certification allows the public to see that these businesses are committed to creating a positive impact in every aspect of their business. In 2007 the first 82 B Corps were certified, and started the incredible community it is today.

Why become a B Corp business?

There is an awakening and a growing global movement towards people wanting a business not only for profit, but to make a difference. Profits alone aren’t enough, and they want their business to create positive change. They want to steer away from greed and ego towards a more sustainable and enjoyable way of business, that not only benefits the CEO’s but every worker within the business. 

Being seen to be doing good is easy, actually doing good is hard work.

Businesses have the power to help change some of society’s most challenging problems, that government and nonprofits can’t do alone. The B Corp community is helping businesses lead this change. 

Some of the key issues they focus on are; reducing inequality, lowering levels of poverty, a healthier environment, stronger communities and creating more quality jobs that help give people dignity and purpose. 

What is a B Corp

What are the steps to become a B Corp?

The B Impact Assessment is the first step to understanding how significant a company’s impact is. This assessment measures the social and environmental performance and then provides an objective judgement and rating. 

The company must receive a minimum verified score on the B Impact Assessment to then receive B Corp Certification. This rigorous assessment evaluates the company’s overall impact on its workers, customers, community and environment, not just their product or service. 

This process is not one to be taken lightly. The company must be completely committed to every step, and when they are approved must amend their legal documents to show their commitment to balance profit and purpose. 

This combination of third-party validation, public transparency and legal accountability help B Corps build trust and value in both the economy and community. 

Joining a global network for change.

The B Corp global network creates standards, policies and tools to support businesses in the B Corp community, helping them lead the way and show that we can adjust our economic system for the better. 

Any company can go online and use the B Impact Assessment tool to measure their impact, giving them an idea of where they currently are, and areas they could improve on. More than 50,000 businesses have used this free management tool.

To date there are currently 7,450 B Corp companies in 92 countries and 161 industries. This is a global community of leaders with one unifying goal and commitment to positive change.

B Corps ultimate vision is that there will one day be no B Economy, with every business having aligned values creating a global economy with a shared common purpose to create a positive impact for all workers, communities and the environment.

Using business as a force for good.

Check out some incredible brands that we recommend in our Eco Directory. Although a lot of these are not B Corp Certified, these businesses value ethical and sustainable practices within their companies. 

What is a B Corp

See below for a more detailed certification process to become a B Corp.

Certification Process

B Corps need a minimum of 80 out of 200 points to get certified. In Australia & New Zealand businesses need to be operational for 12-months before being B Corp certified.

1. Get prepared

Learn more about what it means to be a Certified B Corporation and find out where your business should start (free short course online).

2. Start the B Impact Assessment

Create an account for the B Impact Assessment and start measuring your social and environmental performance. Use the online resources for support and recommendations on ways to improve your impact.

3. Get support to improve

Most businesses make changes to become certified. If you’re stuck below 80 points or need additional help,  online workshops or 1-1 consultations are available.

4. Understand the legal requirement

A key part of certification is meeting the legal requirement in your company’s constitution. Australian companies can learn more about the requirement here.

5. Submit your assessment

Once you’ve completed the assessment with over 80 points, follow the final steps to submit. 

6. Verify & improve

Our Standards Review Team will work with you, requesting documents to verify your answers. This step typically takes from 2 to 6 months, depending on the size and complexity of your organisation. 

7. Certify as a B Corp

Once your score of 80+ is verified, you will be invited to sign the Declaration of Interdependence and B Corp Agreement, pay your annual certification fee, and publish your profile on the B Corp directory.

8. Celebrate & share

We’ll give you the tools you need to announce your certification to your team, clients, customers, suppliers, and everyone else! Be loud and proud in sharing your certification.

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