The Rise of the B Corp

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Written By Nick Perry

Key Takeaways

  • As businesses have emerged from the Covid-19 pandemic, priorities have shifted.

  • More businesses are thinking about their impact.

  • 2022 saw a 28% increase in the number of Certified B Corps. B Lab UK DOUBLED its certified businesses.



What is a B Corp?

A B Corp, short for Benefit Corporation, is a special type of business entity that prioritizes both profit and positive impact on society and the environment. Unlike traditional corporations solely focused on financial gains, B Corps are legally mandated to consider the interests of various stakeholders, including employees, the community, and the environment, in their decision-making processes. These businesses aim to balance purpose and profit, using their operations as a force for good. B Corps undergo a rigorous assessment to obtain certification, demonstrating their commitment to meet high standards of social and environmental performance, transparency, and accountability. By voluntarily embracing this certification, B Corps showcase their dedication to creating a more sustainable and equitable world through their business practices.

B Corp in Numbers


At the end of 2022 there were 6,123 certified B Corporations globally.

How many B Corps are there in the UK?

  • The number of certified B Corps has grown substantially in the UK post-Covid.

  • The total at the end of 2022 was 1,139.

  • A quick search on the B Corp Directory yielded 1,839 results of UK located Certified B Corps in June 2023


What is causing this growth?

Covid-19 highlighted a need for fundamental change in the way our society functions. Our system failed to value the impact a pandemic could have and therefore lacked resilience.

Becoming B Corp Certified is attractive to businesses for a variety of reasons:

  • it fulfills a desire to conduct business in an ethical way

  • it provides a framework to measure and improve environmental and social impact

  • the certification shows employees, suppliers, customers and other stakeholders that the business has a strong performance on environmental and social sustainability, which is becoming more important to those stakeholders

  • B Corp is becoming more recognisable - it enables citizens and employees to quickly make a judgement call about the business’s values

B Lab, the organisation that oversees the award of the B Corp certification, has increased their capacity to process and assess B Corp applications over the last year and this could be satisfying pent up demand.

How can you get involved?


At EVOLV Consultants we support businesses to join the B Corp movement. We see business as a key enabler of change in the next decisive decades.

If you want to find out more about our work, or are seeking support on your B Corp Application or Impact Assessment, please contact us via our contact form.

Sources:

B Lab Global Annual Report 2022: https://www.bcorporation.net/en-us/news/blog/2022-annual-report/

Nick Perry