BritainThinks gains B Corp status

B Corporations are a type of business that pursues purpose as well as profit, and BritainThinks has completed the certification process run by B Lab UK to become an official B Corporation.

The certification process required meeting targets in five key impact areas: governance, workers, community, environment and customers.

Evidence of socially and environmentally responsible practices relating to energy supplies, waste and water use, worker compensation, diversity and corporate transparency are also required to reach B Corporation status.

BritainThinks was required to legally embed its commitment to purpose beyond profit in its company articles to complete the certification. There are approximately 3,500 B Corporations worldwide.

B Corporation status follows BritainThinks becoming employee-owned earlier this year, with the company now run by a trust set up on behalf of the company’s staff.

The agreement that led to the company being employee-owned saw every member of staff who had been at BritainThinks for a year or more receive a cash bonus to celebrate the transaction, and have a formal stake in the company’s future financial success.

Viki Cooke, founding partner of BritainThinks, said: “We are thrilled to be joining the B Corp community, demonstrating our core belief that purpose and values are core requirements of a successful sustainable business.”

Chris Turner, executive director of B Lab UK, said: “This is a movement of companies who are committed to changing how business operates, who believe business really can be a force for good. We know that BritainThinks are going to be a fantastic addition to the community and will continue driving the conversation forward.”