March is B Corp month, and along with a community of nearly 4,000 other companies, we are celebrating the fact that Town Square is a certified B Corp. It is a badge we are very proud of, but what does it actually mean?

What is a B Corp?

Being a B Corporation means that we are driven by a healthy balance between profit and purpose. We want to use our business as a force for good by making impactful social and environmental change for the communities where we work.

A B Corp agrees to always operate with the best interests of their workers, customers, suppliers, community, and the environment, at the heart of their decisions.

The process

A B Corp accreditation is more than just writing a few sentences into the legal structure of your business and then forgetting about it. It is a constant journey to improve how you interact with the world, finding areas of weakness and working on them to be the best you can be.

All B Corps must complete a B Impact Assessment – a thorough and rigorous audit of your operations. It assesses your impact in 5 key areas: workers, customers, community, environment and governance.

Based on your responses, you can establish where you are already making a difference, and in which areas you could be setting goals for improvement. Whether you are already a certified B Corp or not, it is a really helpful tool in guiding you towards being an all round better business.

For those who are accredited B Corps, the Impact Assessment is audited and re-certified every 3 years, and you continually aim to improve your score.

A growing community

The B Corp movement is a global phenomenon, and it is growing. Consumers are driving a cultural shift towards inclusive, ethical business, but it can be difficult to differentiate between companies who implement this at the core, through actions, and those who are playing a clever marketing game. Being an accredited B Corp is one such way to show your customers that you mean business for good.