What Is a B Corp & Should I Do Business With Them?
June 29th, 2023
As we navigate the global market and make decisions about who we should partner with and where we should focus our energy, we need to take the time to do a bit of research on what they all include.
For many, the idea of a B Corp gives business owners and consumers the feeling that they are working with an ethical and sound company. But is that really the case? Should you do business with them?
What Is a B Corp?
The first thing you should know about a B Corp, Benefit Corporation, is that they are legally bound to specific standards in how they operate. In order to obtain status as a B Corp, they must be certified by an authorized third party called B Lab.
There are many ways that a company has to be verified before acquiring this certification and corporation status. The various elements include the following:
Uphold High Standards of Social and Environmental Performance
Retain Appropriate Levels of Industry Accountability
Maintain Established Levels of Transparency
These elements aren’t limited to one area of the business. Instead, B Corps are required to exercise these standards across the board, including but not limited to the following:
These standards improve the B Corp status and ensure smooth running and high-level satisfaction.
How Do B Corps Identify Themselves on Labels?
When you are looking for specific products that identify as a B Corp, you can easily spot one through their packaging and labels. As you are holding the item, look for an emblem resembling the letter B inside a circle. You will often see this logo in conjunction with the words “Certified B Corporation.”
It’s possible that you may find this signification in an inconspicuous area. Many companies will put it in a spot that is prominently visible to all. However, the design of certain packages may require it to be placed on the back or towards the seal. It’s crucial to look all over if you are having difficulty locating it.
What Does a B Corp Label Mean?
As a consumer, if you purchase an item that signifies that it comes from a B Corp, you can rest assured knowing that it is being held to rigorous standards. To place that logo on the package, the company must undergo an intense series of assessments to determine its eligibility based on the elements listed above.
Sometimes you may come across products that claim to be sustainable and ethical but don’t have the B Corp symbol. It is critical that you look for this emblem if you desire to have a genuine and authentic product that abides by the standards set forth.
How Can You Choose B Corps That Align With Your Goals?
The first step when deciding which B Corps you want to do business with requires you to determine what values and causes you want to support. Once you have that vital information, you can find the appropriate corporations to partner with.
One way to do this is to search the database of certified B Corps on the certification website. On the B Lab page, you can search by keywords to narrow down the many companies that participate and then select the ones that align most appropriately with your values.
What Are the Positive Impacts of Buying and Working With B Corps?
There are many ways in which supporting B Corps can positively impact the world. Not only will it be beneficial to yourself, but also to your community. Some of the ways in which you may notice the trickle-down effect are through the following:
Driving Social Change
Impacting Environmental Transformation
Supporting Ethical Business Practices
When you purchase a good or service from a B Corp, you aren’t just ensuring you get a quality product from ethical entrepreneurs. You also support healthy workplaces, visibility between consumers and CEOs, new approaches to production and manufacturing, and more sound and sustainable policies and laws.
With all the different labels that appear on items today, it can be challenging to know which logo identifies with what cause and what it means. Since we are at a time in life where supporting those working to make a better environment and maintain positive business practices is a critical thing to do, knowing which are legitimate is critical.
With the B Corp certification, consumers can rest assured that the product they are purchasing undergoes thorough vetting and rigorous assessments. Done through an independent third party, the process to obtain the certification is lengthy and comprehensive.
When a company is awarded B Corp status, they have proven that they have the wherewithal to offer sustainable products that positively benefit and impact its workers, stakeholders, consumers, and the community.