On Friday, I had such an engaging conversation with the board of Halspan who are keen to know more about B Corp accreditation, I thought “What a way to wrap up B Corp month!”.
Their CFO Ian Wallace and fellow ICAEW member reached out to me after seeing our B Corp posts in March, so it was great that our efforts had triggered a company to engage with us and use our offer to receive a free consultation about what it means to be a B Corp.
In an open and flowing conversation, I aimed to cover their two key questions
i) is it right for us?
ii) what does it involve?
Is it right for us?
For the first question, I outlined that being B Corp shows everyone that values are embedded in the organisation’s DNA because all the requirements are grounded in core values of a purpose driven business that see value beyond profit. Well with that covered, they were keen to hear about what’s involved.
What does it involve?
For question 2, it really depends on the current business practices, the complexity of the organisation’s structure and the will of the leadership team. The bigger and more complex the business is, the longer the process might take – For Beyond Green, as a micro business that had already been implementing a holistic approach to business beyond profit, certification only took us 2 months. A complex business with more traditional management practices and structures may need closer to 2 years to transition to B Corp.
Regardless of the timeline, it is important to stress that B Corp certification is a journey not a tick box for a logo. When I heard a Director of Halspan say “the value of B Corp is the structure and the clear journey it outlines of developing your business for the benefit of all stakeholders”, I thought that’s it in a nutshell. Another strength of the B Impact Assessment is its logical and methodical approach to demonstrating values led business practices and how it links to the SDGs. For many businesses, they are already along the B Corp journey drawing on existing policies and schemes such as ISO14001 and Investors in People
I am delighted they wish to take our conversation to the next stage and really valued the engagement from everyone around the table who represented marketing, management systems, and technical. In my view, the finance team play such a key role in sustainable business practices and understanding value creation, so thanks again to the CFO for reaching out – what an uplifting way to finish the week and B Corp month 2022!