Together we start the process by reviewing all the questions that are relevant to your business in the B Corp Impact Assessment Tool. Fair Enough will then create a plan and define a list of priorities to help you work through the tasks and changes to processes and policies required across the business.
Fair Enough can work with your business as a project manager to maintain motivation and/or be an extra pair of hands helping you actively get some of the work done by producing policies, processes, surveys and reporting etc. Either way, Fair Enough will help you make the most out of this process.
When we are confident evidence for each question in the assessment can be provided if requested and you have made the legal change to your company governing documents, your assessment can be submitted!
Fair Enough can continue to support you through the verification stage of the assessment by joining your review call and assisting with gathering any evidence requested by the B Corp Analyst.
Congratulations! You're already part of a global community of over 5,000 businesses and leaders with a shared belief that business can be a force for good!
B Corps are required to re-certify every three years and publish an annual impact report to share your progress and goals.
Fair Enough can assist with Impact report data gathering and be a fresh pair of eyes on your assessment; bringing new ideas to the table to benefit the business, people and planet.
Here's some of the questions Fair Enough is asked most frequently about B Corp certification. If there's something else on your mind don't hesitate to ask!
You don't have to certify as a B Corp to improve your sustainability credentials. Initially, some businesses may not be able to afford certification fees on top of implementing other positive social and environmental initiatives. But, don't let that put you off getting started! The Assessment tool is free to use and is a great best practice guide.
If you have a large business or you have subsidiaries, affiliates, or parent companies you may need to take a specific pathway in the assessment. This could be the route for large companies or a complex structure review. You can find out more about these pathways here.
Pending B Corp status is designed to give start-ups and smaller companies time to prepare for the rigorous process of full B Corp Certification and sends a signal to investors and stakeholders of how you intend to use the business as a force for good. Read more about pending B Corps here.
To certify, a business must score a minimum of 80 out of a potential 200 points in the B Corp Impact Assessment (BIA). Working through the assessment can be transformative, therefore it's rigorous and covers every area of your business!
Businesses who already have solid foundational social and environmental policies and processes in place could be ready to submit the assessment in as little as 3 months. For others, this could take 6 months plus; it depends on the complexity of the business and available time and resources.
Once you've submitted the completed assessment, the verification process could take from 6 months to a year based on size and complexity. Large businesses could expect this to take longer through.
There's currently (May 2023) a one off submission fee of £250 (Plus VAT) due for payment at the point of submitting your assessment. Upon certification, fees (based upon revenue) are due annually. Pending B Corps pay a fee of £500. View B Corp pricing here.
You may also want to consider budget for things such as charitable donations, employee benefits, employee training and development and carbon footprint reporting.
This will depend on how much progress you've already made as a purposeful businesses or a business who has already put time and effort into developing social and environmental policies.
Commonly, there's a few areas of the assessment that can require more effort. These include measuring the environmental impact of your supply chain, diversity, equity and inclusion and measuring the business carbon footprint.
Anyone can access the BIA tool and begin working towards certification. But, most businesses choose to work with a consultant to save time and to help them get the most out of the certification process.
A consultant can help do the work and advise on the best way to go about it. Most commonly, Fair Enough works with clients on a project management basis and assists in creating and implementing new policies and processes and providing training for employees.