How to Get B Corps Status in the UK: A Guide

Are you wondering what moves household names like allplants, Presto Coffee, Proper (formerly Propercorn), Milk&More, Simply Business and The Body Shop have in common?

They all are proud holders of certified B Corp status. In fact, they are part of an ever-growing group of over 1500+ organisations across the UK that have committed actions towards sustainability, inclusivity, and ethical business conduct.

What is a Certified B Corp?

The label of being a Certified B Corp means that an enterprise is

• part of a wider network of for-profit organizations
• show the potential of healthy profitability
• indicate significant capacity for positive social change
• gauges the potential impact of each business move on both the community and environment
• grounded in moral and social good
• caring for more than just profits
• aiming for high standards regarding social and environmental performance, transparency, and accountability

This criteria is verified by B Lab, the not-for-profit organization behind the B Corp movement.

Three Steps to Get B Corp Certification

1. Complete the Self Assessment

The B Impact Assessment (BIA) is an online platform used by over 50,000 businesses. It evaluates the interaction of your company with workers, customers, community, and environment. To qualify, your business should score at least 80 out of 200 in the self-assessed performance test based on the B Corp’s five key areas:

• Governance
• Workers
• Community (physical or virtual)
• Environment
• Customers

2. Meet the Legal Requirements

To get the status of B Corp, your business should have at least six months of revenue. You need to prove that the majority of your revenue is from trading and you’re not a charity or a state-owned firm. You also need to adopt governing documents that pledge a material, positive impact on society and the environment.

3. Sign the B Corp Declaration of Interdependence

Your company needs to agree to be a change-driver in the world according to the declaration. Once signed, the required annual fee has to be paid to get the official B Corp certification.

What are the Benefits of Being a B Corp?

B Corp certification brings numerous advantages for your business including:

1. Brand Building: B Corp certification sets your business above competitors, reflecting your commitment to conscious excellence.
2. Customer Base Expansion and Retention: The certification can enhance the attractiveness of your brand, improve demand for your products/services, and keep your existing customers.
3. Attract Top Talent: B Corp businesses are known for attracting highly skilled employees from diverse backgrounds.
4. Increased Investor Attractiveness: Investment firms, venture capitalists, and other stakeholders are showing increasing interest in B Corp certified organizations due to their high ESG (Environmental and Social Governance factors) ratings.

Let’s Talk Legals: The Importance of Updating Corporate Governing Documents

A B Corp’s corporate governing documents must declare that all shareholders, employees, and suppliers are acknowledged and considered.

While reshuffling your corporate structure, it’s essential to consult with your legal advisors to ensure you’re not leaving your business open to any risks or loopholes.

For comprehensive breakdown and advice on adopting B Corp legal language into your constitutional documents, consider using Genie AI.

Genie AI’s AI Legal Assistant aids in drafting, reviewing, negotiating and signing legal agreements, reducing legal risks and improving operational efficiency.

Wrapping Up: Choose to Stand for Positive Change

Choosing to become a B Corp is not just about branding and gaining customer trust. It’s about proudly declaring your company’s commitment to positive, systemic change, sustainability, and ethical conduct.

Becoming a B Corp is evidence that your company cares about more than just profits. With the right preparation, and the support of an AI Legal Assistant like Genie AI, your business can join the 1500+ plus B Corp organisations in the UK, building brand trust and attracting the attention of consumers and investors.

Interested in knowing more about sustainability and environmental consciousness in business? Explore information on Retail and other sectors concerning B Corps, The world’s largest open-source legal library, and various Genie AI Services which can elevate your company’s social and environmental footprint.

Know the benefits, embrace the excellence.

Take the initiative and join the ranks of B Corps today!

The planet will thank you.

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