B Corps: Blending Profit & Purpose

The B Corp is a new type of corporation for a new type of entrepreneur, the social entrepreneur, who creates business models that benefit society, the environment, employees, customers and investors. These social entrepreneurs increasingly demand that business serve both shareholders and society, considering the impact of their decisions on multiple stakeholders rather than maintaining a singular focus on short-term maximization of financial profits.

B Corps are designed for companies that are intentionally seeking to create a material positive impact on society and the environment, in the operation of their business. If that purpose does not effect the manner in which you operate your company, then the B Corp may not be a good fit for you.

It’s worth noting that a positive impact on society or environment that is merely incidental or accidental does not meet the standard required to become a B Corp. So, for instance, if your company simply has some corporate social responsibility program, has a volunteer day annually, or gives an incidental amount of money to charity, you’re probably not a good fit for a B Corp.

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