What is a B Corp Company & Why Should You Care?

Image Source: Unsplash

Our society is constantly trying to figure out how to balance capitalism with doing good. Well, not everyone is trying to balance these things (cough cough Amazon cough), but let’s focus on the people actually trying to do the right thing. There are so many nuances to take into consideration that usually this just ends up being split on party lines. But it doesn’t have to be that way and B Corporations are making immense strides on bridging that gap. You can actually manufacture, sell things, make money and take care of people all at once. 

Have you ever noticed a small emblem on a storefront that says B Corp, or maybe you’ve seen it on a hang tag or on the bottom of a website somewhere? Do you know what it means?

Simply put, Certified B Corporations are companies that balance purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment.

The B Corp movement started in 2006, the first 82 B corps were certified in 2007 and now in 2020 there are over 2,500 certified B corps around the world.

It helps to first take a look at how your company scores on the B Corp Assessment, here’s an example of Patagonia’s report.

Image Source: https://bimpactassessment.net/patagonia-2011-report

This assessment gives a score across 4 core areas, governance, workers, community, and environment.

Here’s an example question from each area to give you an idea of how it all works.

B Corp Governance

Source: https://bimpactassessment.net/how-it-works/assess-your-impact#see-sample-questions

B Corp Workers

Source: https://bimpactassessment.net/how-it-works/assess-your-impact#see-sample-questions

B Corp Community

Source: https://bimpactassessment.net/how-it-works/assess-your-impact#see-sample-questions

B Corp Environment

Source: https://bimpactassessment.net/how-it-works/assess-your-impact#see-sample-questions

So, why should you care about this? 

These companies have developed systems and practices to ensure they are doing the right thing across all aspects of their businesses. Choosing to shop and support B Corps is essentially voting with your dollars. It may cost a little more, but wouldn’t you rather know where your money is going? 

Knowing that it’s not just filling some CEO’s pockets while workers barely earn living wages, or the company is taking your money while actively destroying the environment