New research suggests businesses certified as B Corps grew 28 times faster than national economic growth (0.5%) in the past 12 months.
A third of certified UK companies said they had attracted new audiences since joining up, it found, while nearly half stated that prospective employees had been attracted to the business because it was a B Corp.
Well known B Corp brands include Patagonia, Ben & Jerry’s, Kickstarter, Hootsuite, Ecover, Pukka and Ellas Kitchen.
“It’s great to see this research that reinforces our view that purpose and profit can go hand in hand,” said Mark Cuddigan, chief executive at Ella’s Kitchen, which was certified two years ago.
“I am excited that the B Corp movement is growing and that UK consumer brands are leading the way in driving positive change and inspiring other businesses to join us on this global mission to redefine the meaning of success in business. Ultimately, the more like-minded businesses who certify as B Corps, the more we can ensure that business can come together to inspire change and be a force for good for people and the planet.”
B Corp has been operating in the UK for two years, and to receive certification you need to pass a robust impact assessment, plus update your company governance documents.
“The word ‘revolution’ is overused these days – but with the range and calibre of businesses that are part of the B Corp movement, who are so committed to using their business as a force for good, it’s hard to deny that meaningful change is under way,” added Katie Hill, executive director at B Lab UK.
“Today’s most exciting businesses are operating for the benefit of all who contribute to their success – for shareholders and for stakeholders – and as such they are taking responsibility for their broader impact on employees, on communities and on the planet. This is the future of business.”