B Corp UK launches to redefine success in business
Thursday, September 24th, 2015 By
Today sees the launch of the B Corp community in the UK. This is a global movement that is redefining success in business. 61 companies have now been awarded B Corp status in the UK – representing the biggest initial community of certified B Corps yet seen globally.
Regular companies exist for the interests of their shareholders. B Corps are companies where the interests of employees, communities and the environment rank alongside those of shareholders. B Corps are also required to change their legal documents so that employees, communities and the wider environment rank alongside shareholders in decision making processes. B Corps formally commit to the B Corp community principles through signing a declaration.
Global B Corps include Patagonia, Hootsuite, Ben & Jerry’s and Change.org and Kickstarter. Today, we celebrate the 61 UK businesses which have certified as B Corps. These include Ingeus UK Limited, The One Brand, Cotswold Fayre, Bates Wells Braithwaite, Cook, Sustainability, Volans and 50 more. Between them, this community of companies have combined revenues of over £340 million and over 2,900 employees, working across more than 10 industries. The launch of B Corps in the UK represents the biggest initial community of certified B Corps yet seen globally.
James Perry, Director at B Lab UK, said: “Britain has shaped so much of the modern global economy, and remains the world’s leading financial centre. But it’s obvious that the global economy needs to evolve so that profit, people and planet are all served by business. We must consign to history the idea that we have to choose between them. The B Corp movement is enabling businesses to make a positive contribution to all three. We stand on the shoulders of giants here, and are hugely grateful for the welcome we’ve had from an inspiring group of leaders from business, government and the social economy. We look forward to working together with them in this long term endeavour to create a new economy that serves people and planet as well as profit”.
The launch today pays homage to the legacy of the UK in shaping and setting the pace for change in the markets over the last 200 years, starting from the Quakers and Rochdale Pioneers.
The B Corp movement has gathered phenomenal momentum in the UK as investors, commissioners, employers and consumers recognise that companies which create positive social and environmental impact, and which treat their workers with respect and operate with good governance, are the best of businesses. This is the future of UK business: to contribute positively to people planet and to profit.
The energy of the UK B Corp community joining the global movement will be captured at a high profile launch event today in Camden. Over 500 attendees from global and UK B Corps will come together with sponsors, business leaders and senior policy makers to celebrate the launch of the B Corp movement in the UK.
Michele Giddens, Co-founder and partner – Bridges Ventures, a certified B Corp, said: “At Bridges, we have spent the last 13 years investing in businesses combining commercial success with positive social or environmental impact. So we are very excited about the official launch of the B Corp certification in the UK. We hope it will give even more impetus to this burgeoning ‘profit with purpose’ movement, and raise awareness of the enormous value it can create, both for investors and for society as a whole.”
David Schluter, Founder – Fluid IT, a certified B Corp, said: “Fluid IT provides outstanding support and managed services to charities, social enterprises and businesses. The people who provide our great services to our clients are different – many come from the employment and training opportunities we source from rehab programmes, prison training schemes and youth engagement charities. Fluid IT is a business and we pride ourselves on our service delivery. We also have a very clear purpose and commitment to solving social problems. In B Corps, we finally have a vehicle that enables us to scale the business, and holds us to our mission.”
Any business interested in people, profit and planet should consider becoming a B Corp. To find out more, visit: www.bcorporation.uk.
About B Lab UK
B Lab UK is a UK not-for-profit which exists to support a community of UK-based B Corps. It supports businesses to join and contribute to the global movement, and links the UK B Corps with the other B Corps around the world. It has applied for charitable status and a decision from the Charity Commission is pending. B Lab UK is coordinated by experienced entrepreneurs and a team of specialists in areas of UK policy, standards and networks.
List of 61 UK founding B Corps (alphabetically)
Bates Wells Braithwaite LLP
Be Inspired Films
Bethnal Green Ventures
Bridges Ventures LLP
Cook Trading Ltd
Cotswold Fayre Ltd
Elvis & Kresse
Enterprise Projects Ventures Ltd
Escape the City
Folk Digital Ltd
Futerra Sustainability Communications
Generation Investment Management LLP
Ingeus UK Ltd
Land of Ed
Macphie of Glenbervie Ltd
Odyssey Labs LTD
Outcomes for Children (Core Assets Group) Ltd
Patients Know Best
Power of Youth
Salt Communications UK
Six Degree People
Social Stock Exchange
Staffordshire Chambers of Commerce
The Big Issue
The One Brand
The Social Investment Consultancy
The TYF Group
Transformation Development Partnership LLP
Transition Force Ltd
Trustees Unlimited LLP
Twelve Winds Consulting
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