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What is Bcorp Certification? B Corp Certification is a designation awarded to companies that meet rigorous standards of social and environmental performance, public transparency, and legal accountability. The certification is issued by B Lab, a non-profit organization that aims to promote the growth of socially responsible and environmentally sustainable businesses. To become a Certified B Corporation, a company must: Complete the B Impact Assessment (BIA): The BIA is a comprehensive assessment that evaluates a company’s overall impact on its stakeholders, including workers, customers, community, and the environment. The company must achieve a minimum verified score of 80 out of 200 points to qualify for certification. Meet legal requirements: The company must amend its governing documents to legally commit to considering the interests of all stakeholders, not just shareholders. This helps ensure that the company remains mission-driven even as it grows or changes ownership. Sign the B Corp Declaration of Interdependence and Term Sheet: The declaration acknowledges that the company is part of a global movement of businesses working to create positive change. The term sheet outlines the certification requirements and fees. Pay an annual certification fee: The fee is based on a sliding scale, depending on the company’s annual revenue. This supports the ongoing work of B Lab and the development of resources and tools for the B Corp community. Once certified, B Corps are required to update their B Impact Assessment every three years and maintain the required score to retain their certification. The B Corp Certification allows companies to differentiate themselves in the marketplace, attract impact-driven talent and investors, and join a global network of like-minded businesses committed to using business as a force for good. B Lab was founded in 2006 in the United States by three friends who shared a vision to make business a force for good. The first 82 Certified B Corps were certified in 2007.  As of March 2023, the global B Corp community has grown to over 6,200 certified companies, with more than 1,600 organizations proudly representing the UK. In February 2023 alone, an impressive 54 UK companies achieved accreditation. These organizations are rigorously assessed across five key categories, demonstrating their commitment to a more sustainable and responsible future. Governance: Mission & Engagement Workers: Financial Security, Health, Wellness & Safety, Career Development, Engagement & Satisfaction Community: Diversity, Equity & Inclusion, Economic Impact, Civic Engagement & Giving, Supply Chain Management Environment: Environmental Management, Air & Climate, Water, Land & Life Customers: Customer Stewardship Souce: https://www.bcorporation.net/en-us/find-a-b-corp/company/nkuku-ltd What is the cost of B Corp Certification? The cost of obtaining B Corp Certification varies based on a company’s annual revenue, as the certification fees are structured on a sliding scale. There is also a submission fee. In the case of small companies its €250.00. The fees support the ongoing work of B Lab, the non-profit organization that issues the certification, and the development of resources and tools for the B Corp community. Here’s a general breakdown of the annual certification fees: Less than $150,000 in revenue: $1,000$ 150,000 to $2 million in revenue: $1,000 to $4,000 $2 million to $5 million in revenue: $4,000 to $7,000 $5 million to $10 million in revenue: $7,000 to $12,000 $10 million to $20 million in revenue: $12,000 to $20,000 $20 million to $50 million in revenue: $20,000 to $30,000 $50 million to $100 million in revenue: $30,000 to $50,000 $100 million to $250 million in revenue: $50,000 to $60,000 $250 million to $500 million in revenue: $60,000 to $80,000 $500 million to $750 million in revenue: $80,000 to $100,000 $750 million to $1 billion in revenue: $100,000 Please note that these figures are approximate and subject to change. For the most up-to-date fee information, it’s best to consult the B Lab website or contact them directly. It takes between 6 to 8 months for Small to medium sized companies to get evaluated. For larger organisations it will take longer.  Exploring the Workers Section of the B Impact Assessment The B Impact Assessment (BIA) for the Workers section evaluates a company’s practices and policies related to its employees. The questions in this section are designed to measure the company’s commitment to providing a supportive, inclusive, and empowering work environment. While the specific questions may vary depending on the size and industry of the company, they generally cover the following topics: Compensation and benefits: Questions may address fair wages, bonus structures, employee ownership opportunities, and benefits packages, including health insurance, retirement plans, and paid time off policies. Employee training and development: This includes inquiries about onboarding processes, ongoing training and development opportunities, performance evaluations, and support for career growth. Diversity, equity, and inclusion: Questions may assess the company’s commitment to promoting a diverse workforce, equal opportunities, and inclusive policies for hiring, promotions, and decision-making. Worker health, safety, and well-being: This involves evaluating the company’s policies and practices related to occupational safety, mental health support, work-life balance, and overall employee well-being. Labor rights and fair labor practices: Questions may cover compliance with labor laws, policies on forced labor and child labor, and the company’s approach to ensuring fair treatment for workers throughout its supply chain. Employee engagement and satisfaction: This includes inquiries about employee feedback mechanisms, workplace culture, and efforts to promote engagement and job satisfaction. Flexibility and work-life balance: Questions may assess policies around flexible work arrangements, parental leave, and other measures to support employees in managing their personal and professional lives. Keep in mind that the B Impact Assessment is tailored to each company’s unique context, so the specific questions may vary. To get a better understanding of the assessment, you can explore the BIA online or create a free account on the B Impact Assessment website. Essential HR Policies for Aspiring B Corps: Building a Strong Foundation for Certification When applying for B Corp certification, it’s important for a company to have strong HR policies in place that demonstrate its commitment to social responsibility and employee well-being. While the specific policies may vary depending on the size, industry, and location of the company,