What is a B Corp?

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.

There are now nearly 4,000 B Corps worldwide, and the community is growing every day. Ben & Jerry’s, Ella’s Kitchen, Danone, Innocent drinks, Jojo Maman Bebe are long-time members of the B Corp community, and newly certified companies include Graze and Brewdog. Waitrose and Boots now even have B Corp shops on their websites, where you can choose to buy only from certified companies.

Find out more

If you would like to find out more about our experience of becoming a B Corp, please get in touch with Sara from our team on sara@townsq.co.uk.