Why your company should consider becoming a B Corp
As businesses seek to align their operations with social and environmental values, many are turning to B Corp certification. B Corp certification acts as a testament to a company's commitment to using business as a force for good, and to their prioritising of purpose - not just profit.
We’re exploring why your company should consider joining the ever-growing ranks of B Corps, and how it can transform your business for the better.
1. Stakeholder trust and loyalty
Stakeholders - often notably customers - are increasingly scrutinising the practices of the companies they support. B Corp certification acts as a powerful signal to your customers that your business is committed to ethical and sustainable practices. Studies show that consumers are more likely to trust and remain loyal to companies that demonstrate a genuine commitment to social and environmental responsibility.
2. Attracting top talent - and growing it
More than ever, people are voting with their CVs in pursuit of careers at businesses committed to sustainable business practices. B Corps are seen as employers of choice - between 2017 and March 2020, B Corp SMEs saw their annual employee headcount grow by 8% – compared to 0% for all SMEs. By becoming a B Corp, your company can attract top talent who also hold your core values.
3. Positive impact on the bottom line
Many think that socially responsible practices hinder financial performance, but B Corps often find that doing good translates into doing well. B Lab reports that B Corps are found to be equally successful at securing external finance, and often, customers appreciate companies that care about more than just profits, leading to increased brand loyalty and marketing.
4. Access to impact investment
Becoming a B Corp positions your company as an attractive investment opportunity for green investors—those who seek both financial returns and positive societal or environmental impact. The certification can broaden your access to investors who are prioritising businesses committed to being better – with some investors considering B Corps to have lower risk and higher growth potential.
5. Formalised alignment with the stakeholder mindset
All companies seeking to become a UK B Corp must meet the B Corp legal requirement and update their Articles of Association with Companies House to include mission-aligned legal language.
This helps separate B Corps from other businesses, by providing a formal commitment that directors will consider the interests of all stakeholders, not just shareholders when making important decisions. This framework enables your company to protect its mission and values while promoting long-term viability and resilience in an ever-changing business landscape.
6. Community and collaboration
Once certified you will join the ‘B Hive’ - an online network of vibrant businesses sharing a common goal—using their influence to create a positive impact. Your company will become part of a movement that transcends individual success to contribute to a more sustainable and equitable future.
Becoming a B Corp is not just a certification; it's a commitment to a better way of doing business. It's about creating value beyond financial gains, building trust with stakeholders, and contributing to a more sustainable and equitable world.
So, why should your company become a B Corp?
Because it's more than good business—it's about doing good and having the B to prove it.
Get in touch today and let’s chat about how UK for Good can support you on your certification journey.
All statistics referenced in this article and more information can be found at: https://ourstory.bcorporation.uk/assets/static/perform.pdf