"Better for business, Better for the world"
B-Corp
What is B-Corp?
BCorp - Certified Business corporation
Similar to how the Fairtrade logo allows consumers to buy with confidence, the B-Corp certification acts as a way to identify businesses that act ethically and with consideration to their long-term legacy.
BCorp is an optional assessment of for-profit companies on our social and environmental performance. This will highlight to clients and other businesses that we are working to be accountable across the board, both within the business and outside of it. Only by leading economic system changes can help to support the collective vision of an inclusive, equitable, and regenerative economy. B-Corp is all about being a positive force for change and you can be a part of that!
We can help you become a B-Corp!
Business Women in are partnering with Pragmatic Consultancy to support you on your journey to become a B-Corp Business. It doesn't matter if you just simply want to find out more about B-Corp or you want us to help you complete the entire process.
* Disclaimer: BWi may receive a small commission through clicks on this link
The Basics of BCorp
When to become BCorp
The assessment may seem daunting or you may feel you haven't reached a certain point in your business. You're not alone. Many business owners feel this way. However, as a business that is now a pending B-Corp, we can't recommend it enough. If it's in your core values, then there is no better way to demonstrate this from the start and complete the assessment, no matter where you are within your business cycle.
How to become BCorp
Becoming a B-Corp company won't happen overnight. The assessment is extensive and it will take some time to complete it. Be prepared to assess and evaluate the questions that are used for the assessment. We can support you through this process, helping you prepare and complete the assessment, as well as providing you with a great approach to discovering your baseline opportunities for your company.
What you need to be BCorp
We recommend having all company accounts and documentation up to date. This is so you can provide accurate information and because the assessment will ask for revenue for the last two years . Having your considerations and policies will also help you to answer the questions within the assessment.
What it takes to be BCorp
A BCorp is a commitment, even once you pass certification, you will need to keep evaluating how you can improve your impact, maintain your status and re-apply every three years as standards rise. To prove your dedication, you will be able to add the prestigious B Corp logo to your business.
Why become a B-Corp Business?
The B Corp certification is designed to improve your impact measurably over time. This means it is an ongoing process of evaluating ways your business can become better. By being B CORP certified, it demonstrates your business stance on accountability, integrity and provides an understanding of how your business impacts both society and the environment. In a time when green and sustainability are more important than ever, B Corp will keep you ahead of the market.
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Positive impact on brand equity
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Greater appeal to employees and customers
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Saves you money in the long run
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Access to the B-Corp community, including access to exclusive events and sustainability data
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Join the fight against climate change
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Shows your business operates to the highest standard and quality
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Collaborate with other B-Corp businesses across the world
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Fighting against inequality and injustice in the world
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According to research, B-Corps have reported a higher growth rate after becoming certified.
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Reducing damage to the environment
The 5 key areas of B-Corp
The B-Corp Assessment is made up of 5 key areas that are used to measure how your business operates on a day-to-day basis and how you are making a positive impact on your stakeholders. These are some of the areas you will be assessed on (these do vary depending on the size and type of your business).
Governance
This area of the assessment evaluates whether your policies, mission statement and the structure of your business consider your stakeholders whilst protecting your business. You may be assessed on:
* Code of ethics
* Policies
* Mission statement
* Financial information disclosure
Workers
This section is all about your employees and can include:
* Career development
* Training opportunities
* Health and wellbeing of staff
* Satisfaction and engagement of staff
* Empowerment of employees
Community
The community section recognises your local, national and global community. This area includes evaluating:
* Your supply chain strategy to reduce inequality and poverty
* Giving opportunities to underserved communities
* Giving back to your local and national economies
*Co-operating with producers and supply chains to improve decision making
* Donating time and money to charitable organisations
Environment
Becoming a B-Corp organisation involves a commitment to operating in a way that has a positive impact on the environment, including:
* Having an environmental management system
* Reducing your water and electricity usage
* Recycling materials
* Educating stakeholders to become more sustainable
Customers
This section of the assessment evaluates your commitment to developing the local economy, serving underpresented/underserved communities and promoting positive change and engagement. You may be assessed on:
* Customer feedback
* Complaint mechanisms
* Monitoring outcomes and customer wellbeing
The Stages of a B-Corp Assessment
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STEP 1
The B Impact Assessment
Used by over 100,000 businesses, the B impact assessment is a free and confidential online platform that enables you to evaluate how your organisation interacts with workers, customers, the community and the environment. You can save the assessment and go back to it anytime. You can choose to fill it out in one sitting, but we would recommend working through it one section at a time. The pass mark for the B Impact Assessment is 80. If you score above 80 you then move onto the next stage. If you score below 80, use this as an opportunity to delve deeper into your business and see where you can make some improvements (if you collaborate with Think Pragmatic, we will support you with this).
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STEP 2
Establish a company profile and fill out the Disclosure Quesionairre
At this point you will find out your baseline score. The pass mark for the B Impact Assessment is 80,.
* If you score lower than this you then you may need to reevaluate and see if there are any areas your can improve on.
* If you score 80 or above you can move onto the next stage.
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STEP 3
So you have scored 80 or above ... what's next?
As you have reached the benchmark score, you can now submit your B Impact Assessment. At this stage you will also be required to pay a one-time submission fee of £250 (+VAT).
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STEP 4
Evaluation Queue
You will now be put in a evaluation queue. This is where your company will be reviewed for eligibility for a B-Corp certificate, this is also the waiting time until you are assigned an analyst. This stage can take up to 9 months due to the number of businesses who are submitting their assessment every day.
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STEP 5
Evaluation
You will now be assigned an analyst from B Lab Global who will look over your company structure and your answers to the B Impact Assessment to determine your eligibility.
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STEP 6
Verification Queue
This stage is where B Lab may require you to provide extra documentation to verify your responses to the B Impact Assessment.
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STEP 7
Verification
Your B Lab analyst will look through all the documentation you have provided. Your analyst will also help you if there is any additional information needed to complete this stage.
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STEP 8
If Improvements are needed
It is very common that businesses are required to make some improvements throughtout the B-Corp Assessment. This stage enables you to make those improvements so that your analyst can confirm you have scored 80+ points.
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STEP 9
Congratulations, you are now a B-Corp Business!
Congratulations, you are now a B-Corp certified business. You will receive your certificate once you have paid your first annual certificate fee. Your fee will be based on your total annual revenue to ensure it is affordable for you. Now you have your certificate, shout about it across your business - it is a huge achievement and you should be proud to be a part of the B-Corp community.
BWi's B-Corp Journey
"I am proud to announce that Business Women in are currently B-Corp pending; we have completed our assessment and are now waiting for our B Lab analyst to approve it and pass us on for a certification. So how did our journey begin? I actually first heard of B-Corp when we were holding a workshop on B-Corp and sustainability in business for our Kickstarters in 2021. At this stage, I didn't know anything about it and was learning just as much as the Kickstarters were. When we discovered B-Corp, we were really excited about getting involved and throughout our journey, we established new policies we didn't realise we needed and really delved deep into the business to see which areas we could improve. BWi is committed to tackling climate change, being a positive force for change, as well as encouraging our members to do the same. " (Michelle Eddahar, Founder of Business Women in)
How we can support you:
Are you interested in becoming a B-Corp business but a bit overwhelmed by the whole process? Maybe you don't have time to complete the assessment or simply just want to talk with us to understand more about B-Corp and sustainability in business. It doesn't matter where you are in your business journey or what level of support you require, get in touch. These are some of the services Pragamatic Consultancy is offering you:
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A 1-2-1 Meeting with Pragmatic Consultancy
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Training to help you understand what B-Corp is
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Support to help you pass your B-Corp Asssesment
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Guidance throughout the entire process
We can help you become a B-Corp!
Business Women in are partnering with Pragmatic Consultancy to support you on your journey to become a B-Corp Business. It doesn't matter if you just simply want to find out more about B-Corp or you want us to help you complete the entire process.
* Disclaimer: BWi may receive a small commission through clicks on this link
Key Resources
Here are some key resources that can help you understand what B-Corp is and aid your decision as to whether your business becomes B-Corp:
* B Impact Assessment - https://bimpactassessment.net/
* B Lab - https://bcorporation.uk/about-b-lab-uk/
* The Story of B-Corp in the UK - https://ourstory.bcorporation.uk/
* Learn more about sustainability in business here - https://www.businesswomenin.org/sustainability/
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