Build a Purpose-Led Business
You may need to consider more than your annual profits to future-proof your business.
Many potential consumers, investors and employees are now interested in how your business impacts society and the environment. How your product or service stands up to scrutiny and how you back up your ethical claims could impact on your future success and direction as well as the people you attract.
Having clearly documented practices can help address this. To get there, you need to understand your current position, your customer, employee and community values and drivers and identify areas for improvement. Such a plan can be implemented at any stage of the business and the sooner the better so that new ways of working become integrated in what your business stands for and can build with you as you grow.
One place to start in measuring and understanding your current impact on society and the environment is with the B Corp's B Impact Assessment, which is free and confidential.
This gives you a view of your current position and helps you to set targets for improvement, looking at everything from your supply chain and input materials to your charitable giving and employee benefits. Beyond that you can seek to Certify as a B Corporation. This is the only certification that measures a company’s entire social and environmental performance and proves your business is meeting the highest standards of verified performance.
Current B Corporations include freelance individuals up to multi-national companies. Becoming a B-Corp is for any size of business, anywhere in the world. You just need the right mindset and the will to help build things better and to inspire others to do the same.