How to become a B Corp – tips for consultancies

The practicalities of how to become a B Corp explained for consultancies, from how long the process takes, to what the journey looks like.

The B Corp journey at a glance

The first step is to complete the B Impact Assessment online form
Undertaking the B Corp certification process can take anything from a matter of months for those operating to high social and environmental standards to multiple years for large companies
A one-off fee ensures commitment, while an annual certification fee varies depending on the annual revenue of the company
It is a comprehensive and challenging process. If you don’t achieve certification at the first try, persevere
Accreditation is not the final step. Recertification is required every three years to maintain B Corp status and maintain a good B Corp score

Can any consultancy become a B Corp?

To be eligible to apply for B Corp certification, a business must be for-profit and have been in operation for a year.  

Each prospective member then carries out a B Impact Assessment. This is an online form that calculates the impact a business has on the environment, communities, customers, suppliers, employees and shareholders. 

What is involved in becoming a B Corp?

To become a B Corp, you need to demonstrate high social and environmental performance by achieving a B Impact Assessment score of 80 or above and passing a risk review.

Next to that, you need to make a legal commitment by changing your corporate governance structure to be accountable to all stakeholders.

Finally, you need to exhibit transparency by allowing information about your performance measured against B Lab’s standards to be publicly available on your B Corp profile on B Lab’s website.

How long will it take to become B Corp?

The length of the process can vary. For businesses that are already operating to high social and environmental standards, the process might only take a matter of months. 

For Megan Taylor, MD at Rise Beyond consultancy, it took 6 months to press ‘submit’ and then 5 months to hear back and go through verification process, which meant almost a year in total.

The wait time for verification can vary. B Lab advises that small to medium-sized companies should expect a wait time of six to eight months, while larger multinationals usually need longer.

How much does it cost to be a B Corp?

A one-off fee is required from all prospective B Corporations when they submit the documentation. B Lab says this is to “ensure the company’s commitment to the full verification process”.

There is also a certification fee, which needs to be paid annually for the business to retain B Corp status. The amount payable varies depending on the annual revenue of the company. Businesses that make up to £149,999 in annual sales pay a fee of £1,000. Meanwhile the largest B Corps, which generate between £750m and £1bn in sales, will pay a £50,000 annual fee.

See the full breakdown here. 