As March is B Corp Month, our co-founder Marcus reflected on the top 5 reasons to be a B Corp. We’re really proud to be a part of the B Corp community, here are the reasons why:
1: We can't keep on doing business as usual
We all know there is a climate crisis, a plastic waste crisis (1 million tonnes of plastic waste a day are produced!) and an ecological/ biodiversity crisis (half of all life on the planet has disappeared in the last 50 years).
Business needs to change.
2: We must think carefully about what is the right way to do business
We need to be thoughtful about how we do business. The B Corp structure is one through which to look at the social and environmental impact of your business. It helps businesses identify and respond to the key impact areas.
3: Business done well will thrive
Business done well is like a symphony or a family. It becomes a nourishing ecosystem for the stakeholders and touch points around it.
Conversely business done badly - even if it makes lots of money, will not leave a positive legacy.
Lots of the companies I admire are B Corps: like Patagonia and Warby Parker, or closer to home businesses like Finisterre and Judes Ice Cream. This is great company to keep for any business and illustrates that being purpose driven helps the company prosper.
4: Locking in purpose
Part of becoming a B Corp is the legal change in the articles of association of the company which means a legal commitment to serve more than just shareholders, but also the planet and other stakeholders.
This means future investors in the company or even new owners will be required to keep this commitment. It also gives confidence to employees and other stakeholders that the business is committed to having a positive impact.
5: Be recognised for your efforts!
The final reason to be a B Corp is to receive the badge of recognition and associated brand benefits of all your efforts. It is not easy to have a positive impact with business and requires effort and determination. So it is important that the business reaps all the potential rewards through the positive publicity of having a third party validation of this good work.
Let’s celebrate B Corp Month together!