What is B Corp?
B Corp is about using business as a force for good.
B Corp Certification is to business what Fair Trade is to coffee or USDA Organic is to Milk.
Businesses trying to become a certified B Corp must take the B Impact Assessment which measures their current impact based on five sectors.
The B Impact Assessment
Accountability, transparency, and mission focus
Employees' access to training, benefits, and ownership
Local involvement, job creation, diversity, and civic engagement
Customer access to feedback, complaints, and quality assurance mechanisms
Water usage, electricity usage, and disposal practices
B Corp Certification:
Requires a score of 80 to qualify
3500+ certified businesses
B Corp Examples:
Network for Good, City First, Dress it Up Dressing
Ben & Jerry's, The Honest Co., Patagonia
Learn more about the B Impact Assessment here.
B Corps vs. Benefit Corporations
B Corp ≠ Benefit Corporation
Benefit Corporations: A legal structure used by traditional for-profit corporations that commit to higher standards of purpose, accountability, and transparency. A business can be both a benefit corporation and B Corp certified.
Must take B Corp Assessment
Available everywhere in the United States
Costs $1000- 50,000/year*
B Lab reviews applications
*Varies depending on company
Directors consider all stakeholders
Publish public reports on Triple Bottom Line (TBL) Performance
Take the B Impact Rating System
Available in 31 States
Costs $70-200 for one use
Maryland developed legislation
Self report data
The B Economy
The "B Economy" describes a business environment where businesses compete to be the best for the world, the people living in it, and the natural environment.
When we unleash the power of markets, we:
Create more high quality jobs
Restore a healthier environment
Increased Local Spending
Added Health Benefits
Building the B Economy Drives Measurable Results
More Charitable Giving
Energy and Water Efficiency
Extra Volunteer Time