B Corp Month 2023

Written By Anjie Vichayanonda

March is B Corp Month and we’ve celebrated in a number of ways, including sharing on our social media channels about why we became a B Corp and what B Corp certification means to us. We also hosted an in-person B Corp Month Celebration Party to celebrate our B Corp certification and raise awareness about B Corps among our friends, family, colleagues, clients, service partners, and other key stakeholders. To help everyone understand B Corps better, we’re writing this post to be a resource for those of you who may be a little “B Curious.”

What is a Certified B Corp?

B Corp certification is a business certification offered by a non-profit company called B Lab. Certified B Corporations, “B Corps” for short, are for-profit companies dedicated to using business as a force for good. B Corps meet high verified standards of social and environmental performance, transparency, and accountability to all of their stakeholders. B Corps use the power of business to solve our most pressing global challenges. Unlike traditional corporations, B Corps are legally required to consider the impact of their decisions on all stakeholders: customers, workers, communities, and the environment.

But, a Certified B Corp is not a type of business entity. Lots of different types of business entities may be certified by B Lab as a B Corp. Sole proprietorships, partnerships, LLCs, and corporations may all be eligible to become Certified B Corps if they meet the certification standards set by B Lab.

B Corps are not the same as Public Benefit Corporations. A public benefit corporation is a type of business entity that can be formed in certain states. There are some public benefit corporations that are also Certified B Corps because they have also completed the B Corp certification process through B Lab, but they do not receive Certified B Corp status simply by forming their business entity.

What is the B Corp Movement?

The B Corp Movement began in 2006 with the idea that a different kind of economy was not only possible, but necessary — and that business could lead the way towards a new, stakeholder-driven model. The B Corp Movement and B Lab establishes standards, policies, tools, and programs that shift the behavior, culture, and structural underpinnings of capitalism. B Corp community uses collective action to address society’s most critical challenges.

Currently, there are over 6,300 Certified B Corporations in over 80 countries, across 150 industries inspiring tens of thousands of other companies to follow their lead by measuring their impact, changing their corporate structure, and building better businesses. The total combined revenue of B Corps globally is over $184 billion.

What are the benefits to becoming a Certified B Corp?

  • People want to work for, buy from, and invest in businesses they believe in. B Corp Certification is a powerful way to build credibility, trust, and value for your business.

  • Maintaining B Corp Certification will help you protect your mission as you scale. By using the B Impact Assessment and governance standards set by B Lab, you can continue to stay true to your company’s mission and values while growing your business.

  • Articulating your mission and values and demonstrating that you meet high standards of social and environmental performance, transparency, and accountability will help you attract clients and customers that align with your company values.

  • Harnessing the collective power of the B Corp community allows you access to expertise, technology, talent, and resources for growing your business in a socially and environmentally conscious way.

  • B Lab and the greater B Corp community have global and local representatives who support B Corps to help raise awareness about your business and connect you with other members of the B Corp community.

  • If you become part of the B Corp Movement, you can get involved with efforts to pass legislation to advance sustainable business and set standards that drive collective action. It allows your business to make a greater impact and be a part of a larger force.

What is the process for B Corp certification? 

The certification process through B Lab varies depending on your company’s size and complexity, all companies must do the following to become a B Corp and maintain B Corp status:

  1. Take the free and confidential B Impact Assessment.

  2. Use the Legal Requirement Tool to determine how your company can integrate stakeholder consideration into your governance structure, which will depend on your location and corporate structure.

  3. Complete the Risk Review and baseline requirements for multinational corporations if applicable.

  4. Gather your supporting documentation and data, and get ready to record your answers.

  5. Establish a company profile—you will be prompted once you fill out the majority of the Assessment—and start the Disclosure Questionnaire. At this point you will learn your baseline score; if it is under the 80-point benchmark, reevaluate and prioritize improvement areas. 

  6. If you’re over the 80-point benchmark, submit your B Impact Assessment for review. 

  7. Go through the review process, which may take about a year or longer.

  8. Recertify every three years, and use the B Impact Assessment and the certification process as a tool for continuous improvement. 

Want to learn more?

If you’re interested in learning more about B Corps, check out the following resources:

Anjie Vichayanonda
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