Taking the Assessment... showed us where we needed to improve to become the role model we want to be. Fees vary by region. If you decide to submit your assessment for certification, B Corp will evaluate your results, ask for supporting documents and set up a phone call to review your results as well as run a background check on you and the company. It takes a lot of work, money and commitment. Maintaining B Corp Certification through the B Impact Assessment is a powerful mechanism to help your company set goals for improvement, create more positive social and environmental impact, and track performance over time. Please be sure to review the process and requirements below that best correspond to your company's size and structure. As a bank, we often get perceived as a company that makes profits at the expense of people and the planet, but this certification has helped us differentiate ourselves and show how we are doing the exact opposite. Small Business B Corp Basics: Requirements & Costs. B Corp Certification is based in part on a company's verified performance on the B Impact Assessment, which asks questions about a company's past fiscal year. First, you need to be certain that you are investing the right amount of money in your corporation. All rights reserved. You should consult your own tax, legal and accounting advisors before engaging in any transaction. But earning the right to add the B Corp seal to your business is not like slapping a meaningless label like “All Natural” on your product. Earning a B Corp certificate is open to for-profit companies. All Certified B Corps must meet a legal accountability requirement to maintain Certification. The Basic Officer Leader Course (BOLC) is a two-phased training course designed to produce commissioned officers in the United States Army. As a non-profit organization, your certification fees only cover a portion of B Lab’s operating expenses. Certified B Corporations pay an annual certification fee, which licenses them to use intellectual property like the Certified B Corp logo. To finalize certification, sign the B Corp Declaration of Interdependence, sign your B Corp Agreement, and pay your annual certification fees. ... What is the difference between B Corps and Benefit Corps… And if you do get certified, your underlying legal business structure remains the same. By Cyndia Zwahlen - 6, 2017. Use our Legal Requirement Tool to determine how your company can integrate stakeholder consideration into your governance structure. The B Corp legal framework helps you protect your mission through capital raises and leadership changes and gives you more flexibility when evaluating potential sale and liquidity options. Whistleblowing Policies. Can sole proprietors get B Corp Certified. … It's provided a credible basis to tell our story of how we are dedicated to healing the banking system for good. The Basic Fantasy Role-Playing Game core rules provide a handy list of weapons and equipment to get your party started. Products We provide product expertise in a variety of categories that include breakroom, print solutions, promotional products, furniture, facilities, … Completing the B Impact Assessment requires a minimum of several hours. Positive impact is supported by transparency and accountability requirements. Shareholder Loss Limitations An S corporation is a corporation with a valid "S" election in effect. Office Basics is your leading provider of workplace solutions. I no longer search for high-potential staff; they now come to me. Getting a B Corp certification is probably more like qualifying for the official “USDA Organic” label, a more serious undertaking. Any for-profit company with at least a year of operations may pursue B Corp Certification. If your company earns >$1B, contact B Lab for more information about associated costs. B Corp Certification is the only certification that measures a company’s entire social and environmental performance. Who is eligible for B Corp Certification? Your company may also be subject to additional costs depending on size and structure. For the latest news and events about the community of Certified B Corporations, © Copyright 2020 B Lab. What types of organizations should take the Assessment ? The B Impact Assessment asks questions about how the day-to-day … The role of the board is to monitor a corporation's management team, acting as an advocate for stockholders. If your company is registered outside any of these regions and is not in the United States or Canada, download your pricing schedule here. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, … Your business can apply for B Corp certification whether it’s organized as a partnership, a limited liability company (LLC), or incorporated as a traditional C corporation. One of the main advantages of incorporating is that the owners' personal assets are protected from creditors of the corporation. This fundamental truth speaks to the heart of why earning our B Corp status is important for us. The shareholder’s basis should reflect the shareholder’s economic investment in the corporation. Growing a Diverse Workforce. The questions you see and how they are weighted in your final score will depend on how big your business is, what industry it is in and where it is located. B Corps set the gold standard for good business and inspire a race to the top, creating performance standards and legal structures being used by thousands of other businesses around the world. Simply taking the Assessment does not automatically make a company a B Corp nor does it obligate the company to pursue B Corp Certification. B Corporations, Diversity, Equity, and Inclusion: Dr. Tiffany Jana Talks Social Entrepreneurship at McIntire. About 1,700 companies have gone through the process so far, including big companies like Etsy, Ben & Jerry’s and Patagonia. More than ever, people want to do business with people and organizations they trust. And you don’t have to make your answers public or continue any further along the path to B Corp certification after you take some or all of the test, if you don’t want to. Engaging and Retaining a Diverse Workforce. The content in this blog post has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. B … Human Interest is the 401(k) provider for small and medium-sized businesses. You can learn more or sign-up to take the test here. 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