Becoming a B Corporation: The Benefits for Social Enterprise Businesses14 Mar 2014, Posted by Social Entrepreneurship in
Want to do some real social good with your social enterprise business? A B Corporation may just be the answer you’re looking for. So what’s a B Corp, and what benefits do they offer social enterprise business owners?
As a social entrepreneur, you have a desire to do some real good with your business operation. You recognize that doing business shouldn’t just be about making money- you can take steps to change the world with your business, too. B Corps are a type of business that are dedicated to doing just that, creating social and environmental change. B Corps are certified by a nonprofit organization, B Lab, and must meet their rigorous standards for accountability and transparency regarding social and environmental performance.
So what are the benefits of becoming a B Corporation? Becoming a B Corp shows transparency in your social enterprise business. You voluntarily commit to meeting standards of accountability and social performance, which shows your clients your commitment to social change. Committing to this level of accountability can show the public, your shareholders, and those you serve that your social enterprise business is dedicated to your social mission.
Becoming a B Corporation also allows a new freedom in decision making. As a corporate entity, B Corps are allowed to make decisions based on social good in addition to shareholder good. Shareholder benefits aren’t the only element dictating business decisions. Social entrepreneurs who founded their social enterprise business in order to serve a social mission can make decisions based on their social impact, without being obligated to only maximizing shareholders’ return. Therefore, making money isn’t the only thing your social enterprise business is about; you can truly dedicate your organization to the greater social good by becoming a B Corporation.
Learn more about B Corps and how to make your social entrepreneurship ideas a reality. Learn the business skills needed through training and networking; join Heroes Economy today.