B Corp advocates and friends of Ignition, joined our panel on the challenges, opportunities and rewards of gaining B Corp status and scaling up your business with purpose.
The Panel:
- Bernard Wiley, Head of Sustainability (Who Gives A Crap) – Transforming eCommerce with a significant social impact.
- Amy Bourbeau, Cofounder and Chief Impact Officer (Seismic) – Advising on sustainability and driving change with companies like Patagonia and Innocent Drinks.
- James Goodwin, Chief of Staff (ENSO) – Pioneering in the clean-tech automotive sector as the first tyre company to earn B-Corp status.
- Victoria McDonnell, Marketing Director (Capsule Insurance) – Specialising in protecting fast-scaling UK enterprises.
- Helen Lucas, Partner (Ignition Law) – Providing integral legal services for start-ups and high-growth enterprises.
Read the top takeaways from the panel and you can watch the webinar below:
The B Corp Certification Process:
The journey to B Corp certification involves a rigorous assessment, known as the B Impact Assessment which spans across five pillars: governance, workers, community, environment, and customers.
Benefits of B Corp Certification:
- Business Growth: B Corps experience a 26% growth rate compared to a national average of 5%.
- Enhanced Recruitment: Purpose-driven organisations, like B Corps, attract top talent, particularly millennials and Gen Z, who value sustainability and ethical practices.
- Investor Interest: Certification appeals to investors, with 70% of B Corps seeking equity finance successfully securing their funding.
Challenges of Certification:
- The process is lengthy (often 9–18 months) and demands significant time and resources.
- Organisations need to formalise their operations and often implement new practices, such as updating governance documents and conducting supplier audits.
The Value of the B Corp Community:
- Being part of the B Corp community fosters collaboration, shared learning, and business opportunities, as B Corps often prefer to work with and support one another.
- There are multiple forums for engagement, including events, working groups, and an online platform called the Beehive.
Post-Certification Accountability:
- Certification is not the end; companies must maintain standards and continuously improve, with re-certification required every three years.
- The new standards set to launch in 2025 will place more emphasis on continuous improvement and increased accountability, reflecting evolving expectations for B Corps.
As a B Corp law firm, we’re looking forward to the process of continuous improvement that’s required to maintain this certification.
About Ignition Law’s Commercial Conversations series
Ignition law’s Commercial Conversations webinar series combines honest, no-fluff discussions with the power of our extensive network of experts, entrepreneurs, and industry leaders. Whether your scaling questions are legal or extend into areas like strategy, branding, or operations, we’ll connect you with the right people to help.
Our network is vast, and our commitment is simple: if we don’t have the answer, we’ll introduce you to someone who does. Designed for decision-makers ready to think bigger and act smarter, this free programme delivers insights, strategies, and connections to support every step and element of your growth journey.
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