Why we’ve changed our company status to become a B corp
When you incorporate a company, you agree to being legally bound to make business profit your number one priority. The interests of shareholders are expected to reign supreme over those of employees, customers and other stakeholders. Profits are your bottom line.
There’s a lot that comes with that. When money is the only thing that matters, bad habits – short termism, a preference for hyper-efficiency over individual human experience, blindness to environmental concerns – are all too easy to fall into. Plus, it prompts a bigger question for entrepreneurs: why did I start this business? Am I running the business I wanted to create?
It’s time to re-evaluate. For us, this meant it was time to re-incorporate. Thanks to the B Corp model, we now have a triple bottom line:
- Shareholder profits
- A material positive impact on society
- …and on the environment.
We are now required to meet higher standards across our social and environmental practices, offer greater transparency, and heighten our legal accountability.
Want to know more?
Why do B Corps Matter?
Certified B Corporations are leading a global movement to redefine success in business.
By voluntarily meeting higher standards of transparency, accountability, and performance, Certified B Corps are distinguishing themselves in a cluttered marketplace by offering a positive vision of a better way to do business.
B Corps create higher quality jobs and improve the quality of life in our communities. And, as the movement grows, it has become an increasingly powerful agent of change.
Government and the nonprofit sector are necessary but insufficient to address society’s greatest challenges. Business, the most powerful man-made force on the planet, must create value for society, not just shareholders. Systemic challenges require systemic solutions and the B Corp movement offers a concrete, market-based and scalable solution.
Over 1,000 businesses have already joined the community, encouraging all companies to compete not just to be the best in the world, but to be the best for the world. As a result of our collective success, individuals and communities will enjoy greater economic opportunity, society will address its most challenging environmental problems, and more people will find fulfillment by bringing their whole selves to work.
“B Corps might turn out to be like civil rights for blacks or voting rights for women – eccentric, unpopular ideas that took hold and changed the world.”Esquire Magazine