Becoming a B Corp: Lessons from KeepCup and Leor childcare

More and more businesses are seeking to prove to consumers that their business model stands for profit as well as purpose by becoming Certified B Corporations.

Certified B Corps are businesses verified by B Lab, a nonprofit organisation founded in the United States. B Lab gives third-party certification to companies based on how they create value for non-shareholding stakeholders, including the environment, the local community, and employees. To date, there are 4,000 B Corps worldwide in 150 industries, up from 3,500 last year.

The first Australian company to achieve B Corp certification was investment firm Small Giants, in 2012.

Given applications can take several months to complete and businesses pay a yearly fee to maintain their certification, it’s important to know whether becoming a B Corp is right for your business.