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The Case for B Corp Certification: North Carolina

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Using business as a force for good? Interested in exploring B Corp Certification? Learn about B Corps in North Carolina - why they exist and how they are leading a movement to redefine success in business. This presentation was given by B Lab's Andy Fyfe, Bull City Burger & Brewery's Seth Gross, and R+M's Greg Norton on March 31st, 2016. Why North Carolina? North Carolina has become a hub of social innovation with a growing community of leaders certifying as B Corporations. If you're considering certifying your business as a B Corporation, now is the time!

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The Case for B Corp Certification: North Carolina

  1. 1. Andy Fyfe, B Lab Hosted by: Jessica Friesen, B Lab Featuring: Seth Gross Greg Norton Bull City Burger & Brewery R+M Agency North Carolina! The Case for B Corp Certification
  2. 2. 1. Overview of B Lab & Vision 2. Certified B Corporation – Spotlight: 3. Why certify as a B Corporation 4. How to Get Started Agenda
  3. 3. B Lab is serving a global movement of People Using Business as a Force for Good So that one day all companies compete to be Best for the World And society enjoys a shared and durable prosperity.
  4. 4. Evolution of Business
  5. 5. • A certification conferred by the non- profit B Lab • A company that meets a high level of social and environmental performance AND makes a legal commitment to consider all stakeholders • Any for-profit company in any country can pursue certification (LLC’s included) • A corporate form (taxed like a C-corp or an S-corp) that has a higher level of transparency, accountability and purpose • A legal entity that has protection and permission to consider its impact on all stakeholders, not just shareholders • Available in 31 states in the U.S. Certified B Corp vs. Benefit Corporation
  6. 6. People are Demanding Better
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  14. 14. 14 You can find this Durham City Print and other great art from designer Karen Young, for sale in her shop on fellow B Corp Etsy.com October 18 - 21, 2016
  15. 15. Poll: How interested are you in B Corp Certification? • I’m doing it • Interested, but something is standing in the way • I’m curious, but need to be convinced • Not interested • N/A
  16. 16. B Corporations The B Corporation certification is to business what Fair Trade is to coffee or USDA Organic is to milk.
  17. 17. 1. Social & Environmental Performance 2. Transparency 3. Accountability Companies using business as a force for good. They meet verified higher levels of: “Patagonia has been a 40-year experiment in what it means to be a responsible company, and becoming a B Corp has ensured that our experiment will keep pushing forward.” What is a B Corporation?
  18. 18. B Corp Community = Good Company to Keep
  19. 19. • Durham, North Carolina Restaurant ✓ Highest paid worker is paid 1-5x that of the lowest ✓ >40% of management from underrepresented populations. ✓ >60% of goods sold come from independent suppliers <200 miles away. ✓ Company’s buildings are built to green standards. B Corp Community = Good Company to Keep
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  21. 21. • Cary, North Carolina Brand Management & Marketing ✓ Work with clients who positively impact the way we live through health, well-being, and social responsibility. B Corp Community = Good Company to Keep
  22. 22. 22 Packing lunches with Raleigh Rescue Mission #GivingGoodness
  23. 23. Storytelling and Retail Success
  24. 24. B2B & Consumer Awareness
  25. 25. Collaboration
  26. 26. “The B Corp movement is one of the most important of our lifetime, built on the simple fact that business impacts and serves more than just shareholders – it has an equal responsibility to the community and to the planet. Patagonia has been a 40-year experiment in what it means to be a responsible company, and becoming a B Corp has ensured that our experiment will keep pushing forward.” - Rose Marcario, Patagonia CEO Lead a Movement
  27. 27. The Case for Certification
  28. 28. B Corp Certification helps companies: 1. Maintain Mission 2. Differentiate from Pretenders 3. Benchmark and Improve Performance 4. Attract and Engage Talent 5. Collaborate with Peers 6. Save Money and Access Services 7. Generate press 8. Raise Capital Learn more here: http://www.bcorporation.net/become-a-b-corp/why-become-a-b-corp Why Certify?
  29. 29. Why are you interested in becoming a B Corp? • Maintain Mission • Differentiate from Pretenders • Benchmark and Improve Performance • Attract and Engage Talent • Other Poll:
  30. 30. Adopting the B Corp legal standards: • Bakes the values of the company into its legal DNA • Gives protection and permission to consider non-financial stakeholders (community, employees, suppliers, environment) • Ensures that mission can survive through new management, succession, or ownership Yvon Chouinard, Patagonia First to register as a benefit corporation in CA January, 2011 “Benefit corporation legislation creates the legal framework to enable mission-driven companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership, by institutionalizing the values, culture, processes, and high standards put in place by founding entrepreneurs.” – Yvon Chouinard 1. Maintain Mission
  31. 31. 2. Differentiate from Pretenders
  32. 32. Jennifer McKaig “The biggest surprise to me was realizing that our employees deeply cared about the things the B Impact Assessment measured.” 3. Benchmark & Improve Performance
  33. 33. 3. R+M and Bull City Burger & Brewery
  34. 34. • B Corp certification provides a platform to engage current staff and give employees more meaning in their work 4. Attract & Engage Talent
  35. 35. 5. Collaborate with Peers: The Hive
  36. 36. Access to a suite of partnerships and discounts • NetSuite – ERP software discount • Salesforce – Software discount • TrustLaw – Legal advice • Intuit – Software discount • B Corp Jobs Board – Free postings Tuition Discounts / Forgiveness • Yale School of Management • NYU Stern School of Business • Presidio Graduate School • Golden Gate University 6. Save Money & Access Services
  37. 37. 7. Generate Press: Examples
  38. 38. 8. Raise Capital
  39. 39. The Path to Certification
  40. 40. • For-Profit Companies of Any Size • Any Industry / Geography • Customized assessment based on industry, size, geography • Any Legal Structure (sole proprietors, LLC’s, Corporations, etc.)* • Companies over 1 year old – special Pending B Corp program for start-ups* Who Can Certify?
  41. 41. Step 1: Meet Performance Requirement Complete the B Impact Assessment and earn a reviewed minimum score of 80 out of 200 points Step 2: Meet Legal Requirement Determine the path for your corporate structure and state of incorporation Step 3: Make it Official Sign the Declaration of Interdependence, pay certification fees and and put a profile up on bcorporation.net To learn more, visit: www.bcorporation.net/become-a-b-corp/how- to-become-a-b-corp How Does a Company Certify?
  42. 42. Governance • Transparency • Ownership Workers • Job Growth • Compensation & Benefits • Employment Practices • Work Environment • Employee Ownership Community • Suppliers • Local • Diversity • Charity / Volunteerism Environment • Energy Use • Facilities • Supply Chain • Manufacturing + Impact Business Models • Direct Impact Products /Services • Targeting Underserved Communities • High Impact Supply Chain Step 1: Meet Performance Requirement
  43. 43. Adopting the B Corp legal standards: • Bakes the values of the company into its legal DNA • Gives protection and permission to consider non-financial stakeholders (community, employees, suppliers, environment) • Ensures that mission can survive over time Step 2: Meet Legal Requirement
  44. 44. Legal RequirementsTerm Sheet & Certification Fees ❑ Sign B Lab Term Sheet ▪ Certification term is 2-years ▪ Participate in on-site review if randomly selected (10% of Certified B Corps randomly selected each year) ❑ Sign the Declaration of Interdependence, ❑ Pay certification fees ▪ Annual certification fees based on the tiered structure ❑ Put a profile up on bcorporation.net Step 3: Term Sheet & Fee
  45. 45. What’s your next step for moving forward? • Start or complete the B Impact Assessment • Improve my score to be over 80 • Preserve my mission • Complete documentation • Other Poll:
  46. 46. Explore the Handbook
  47. 47. ▪ B Impact Assessment: http://bimpactassessment.net/ ▪ How to Certify as a B Corp: http://www.bcorporation.net/become-a-b-corp/how-to- become-a-b-corp ▪ Legal Requirements: http://www.bcorporation.net/become-a-b-corp/why-become-a- b-corp/protect-your-mission ▪ FAQ for Investors & Directors: http://www.bcorporation. net/sites/all/themes/adaptivetheme/bcorp/pdfs/faqs_investors_and_directors4.pdf ▪ Pending B Corp Status for Start Ups: http://www.bcorporation.net/become-a-b- corp/how-to-become-a-b-corp/steps-start-ups ▪ Case Studies: http://bimpactassessment.net/case-studies ▪ B Corp Press: http://www.bcorporation.net/news-media Resources Jessica Friesen B Lab: Community Team jessica@bcorporation.net
  48. 48. Redefine success in business. Help create the new economy. Build a better business. Compete to be not only the best in the world, but the best for the world. Join us.

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