a first introduction to b corporations
TRANSCRIPT
B Lab is serving a global movement ofPeople Using Business as a Force for Good
So that one day all companies compete to be Best for the World
And society enjoys ashared and durable prosperity.
Fast Company : mentions, next to Apple, Uber, and the Human Genome Project, the B Corp moviment as one of the 20 most memorable moments of the last 20 years.
Forbes wrote that being a B Corp is one of the 5 key success factors that a company should aim for in 2016.
B Corporations The B Corporation certification is to business what Fair Trade is to coffee orLEED is to buildings.
Last 20 YearsGood Products
Next 20 YearsGood Companies
1. Social & Environmental Performance
2. Transparency 3. Accountability
Companies using business as a force for good.
They meet verified higher levels of:
“B Corp certification further signals to our
stakeholders (coworkers, customers, suppliers, and
community) that our values are truly at the core of our business.”
What is a B Corporation?
1. Elevating Purpose and creating new business
opportunities
2. Improve Performance and Benchmark
3. Building Trust
Companies using business as a force for good.
“By becoming a B Corporation, entrepreneurs can protect their
mission by elevating their company’s core social and environmental values to the
status of law.”Sir Ron Cohen - the father of
social impact investing
What is a B Corporation?
Three key deliverables
B Corp Community = Good Companies to #BtheChange
1 unifying principle
+40,000
took BIA
+1850
B corps
130 industries
50 countries
Steps to becoming a certified B Corp
0.set up as
an enterprise
1.take the impact
assessment (free)
2.Prepare and
deliverdocumentation
3.Call from auditor
(adjusting theevaluation)
4.Signing Terms
(term sheet)
5.editing
your statutes
6.paying the
certification fee
6 steps to become a B Corp
B Corp Certification helps companies:
1. Maintain Mission
2. Differentiate from Pretenders
3. Benchmark and Improve Performance
4. Attract and Engage Talent
5. Collaborate with Peers
6. Save Money and Access Services
7. Generate press
8. Raise Capital
Learn more here: http://www.bcorporation.eut/become-a-b-corp/why-become-a-b-corp
Revisiting the Benefits
Adopting the B Corp legal standards:
• Bakes the values of the company into its legal DNA
• Gives protection and permission to consider non-financial stakeholders (community, employees, suppliers, environment)
• Ensures that mission can survive through new management, succession, or ownership
Yvon Chouinard, Patagonia First to register as a benefit corporation in CA
January, 2011
“Benefit corporation legislation creates the legal framework to enable mission-driven companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership, by institutionalizing the values, culture, processes, and high standards put in place by founding entrepreneurs.” – Yvon Chouinard
1. Maintain Mission
2. Differentiate from Pretenders
Jennifer McKaig, Etsy
“The biggest surprise to me was realizing that our employees deeply cared about the things the B Impact Assessment measured.”
3. Benchmark & Improve Performance
“B Corps are 46% more likely to have satisfied and engaged employees than ordinary businesses.” B Analytics
“Employees who are satisfied in their jobs because they believe in what they are doing have 16% better overall performance and 125% less burnout than their peers.” Harvard Business Review
“Almost two-thirds of millennials said they would rather make $40,000 a year at a job they love than $100,000 a year at a job they think is boring.” Forbes
• B Corp certification provides a platform to engage current staff and give employees more meaning in their work
4. Attract & Engage Talent
5. Collaborate with Peers: The Hive
Access to a suite of partnerships and discounts • NetSuite – ERP software discount• Salesforce – Software discount• TrustLaw – Legal advice• Intuit – Software discount• B Corp Jobs Board – Free postings
Tuition Discounts / Forgiveness • Yale School of Management • NYU Stern School of Business• Presidio Graduate School • Golden Gate University
6. Save Money & Access Services
7. Generate Press: Examples
• The B Corp certification helps attract aligned investors so that companies can scale their impact
8. Raise Capital
"We raised capital and our lead investor was also a Certified B Corporation. The B Corp connection meant access to capital from mission-aligned investors."
David Murphy, Chairman
Step 1: Meet Performance Requirement Complete the B Impact Assessment and earn a reviewed minimum score of 80 out of 200 points
Step 2: Meet Legal Requirement Determine the path for your corporate structure and state of incorporation
Step 3: Make it Official Sign the Declaration of Interdependence, pay certification fees, extra transparency of Disclosure Questionnaire, and put a profile up on bcorporation.net
To learn more, visit: www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp
Revisiting the Process to Certify
Governance• Transparency• Ownership
Workers• Job Growth• Compensation & Benefits• Employment Practices• Work Environment• Employee Ownership
Community• Suppliers• Local• Diversity• Charity /
Volunteerism
Environment• Energy Use• Facilities• Supply Chain• Manufacturing
+ Impact Business Models• Direct Impact
Products /Services• Targeting
Underserved Communities
• High Impact Supply Chain
Step 1: Meet Performance Requirement
Adopting the B Corp legal standards:
• Bakes the values of the company into its legal DNA
• Gives protection and permission to consider non-financial stakeholders (community, employees, suppliers, environment)
• Ensures that mission can survive over time
Step 2: Meet Legal Requirement
Legal Requirements Term Sheet & Certification Fees ❑ Sign B Lab Term Sheet▪ Certification term is 2-years▪ Participate in on-site review if randomly
selected (10% of Certified B Corps randomly selected each year)*
❑ Sign the Declaration of Interdependence,
❑ Pay certification fees• Annual certification fees based on the
tiered structure
❑ Put a profile up on bcorporation.net and make Disclosure Questionnaire public.
Step 3: Term Sheet & Certification Fee
* Transparency requirement may change due to subsidiary relationship of Chobani Australia. TBD
Start now - measure your company
You can now take the free and confidential Benefit Impact Assessment used by over 40,000 other users, to assess and benchmark the impact of your company
Go to: http://bimpactassessment.net
Redefine success in business.Help create a new economy. Build a better business.
Compete to be not only the best in the world, but the best for the world.
Join us
Twitter: @bcorpeurope | Web: bcorporation.eu | Facebook: @bcorpeurope