A B-corp is a certification. The not-for-profit - B Lab - created a set of ESG standards (environmental, social, and governance) that they believe every business should follow.
B-corps have become increasingly popular, and there's a lot of stir around what exactly this is. Does my agency need to get established as one? Let us clear up a bit of confusion.
Basically, the B Lab certification to become a B-corp is a series of standards they believe every business should follow, and if you follow and meet all of these standards, you can apply for the certification, and then you'll be established.
Even though it has the word "corp" in it, it isn't a legal designation; it's a certification. We don't want to send the message of "the best agencies are b-corps", having this certification won't necessarily bring you more talent, but it is a way to demonstrate some of your values!
If you're really passionate about ESG, focus on getting your business in order first and use the tools the B-Lab provides to take the initiative. Pursue sustainability and governance as best you can, and once you've built a business that can sustain itself, then you open yourself up to the opportunity of investing some time and money into this certification! But this is our reminder to focus on your business first - build it up to the agency you want to be, then focus on the more tedious things such as certifications.
Tune into our episode of Creative Outcomes - a podcast that focuses on giving out tips and tricks and spilling the tea on what makes the best agencies the best! This episode will help you answer questions surrounding what a B-corporation is, how to become one, and if it's beneficial for your agency or not.
Click the link below to watch!