What is a B Corp? And how do I become one?

You may have heard of B Corps, noticed the bold little B logo, or even purchased a B Corp product before – but what does it all mean?

Certified B Corporations have made a commitment to the balance of profit and purpose – using business as a force for good. This is no easy feat, approved B Corps have undergone extensive analysis and scrutiny to achieve their certification.

Why are so many brands striving for B Corp status?

B Corp status gained early momentum with lifestyle and food and drink brands as it is a natural fit for brands looking to really commit to their values. It offers companies an opportunity to look deeper into their practices and supply chains, and see how their company affects people and planet at every touchpoint possible.

So how are B Corps analysed?

B Corps are measured on everything from who they hire to social impact and public transparency – with the key tenet to do no harm, and benefit all. The analysis and application is extremely rigorous and can take some companies months or years to successfully complete and gain certification. It is the only certification which measures a company’s entire social and environmental performance. Brands can see how they shape up using the online B Impact Assessment.

What is the return on B Corp status?

Looking past the countless immeasurable benefits of becoming a B Corp data has also shown that:

B Corp businesses grow 28 times faster than average
48% of B Corporations have found potential employees attracted to the businesses because of their B Corp status
66% of global consumers said they were willing to pay more for sustainable products and practices
46% of B Corps claim to have benefitted from partnerships with other B Corps and the community it brings

So how do I become a B Corp?

To gain B Corp status and begin the process you will need to do the following:

Complete the B Impact Assessment using the online tool here.
Meet the Legal Requirements – online tool here.
Await scoring from B Labs, virtual meetings and further documentation if necessary.
Achieve Certified B Corporation status.

If you are interested in learning more about B Corp status and the process, you can read more at bcorporation.net