B Corp social purpose business movement declares "Change is Coming” as it launches in UK

The names of 60+ ‘social purpose businesses’ have been revealed as the global B Corp movement launches its founding members in the UK.

Big Issue, Cook, BWB, Charity Bank and Matter&Co – the organisation behind Pioneers Post – are on the list, joining global names such as Hootsuite, Kickstarter, Patagonia and Ben & Jerry’s.

The B Corp community is a global movement of more than 1,400 businesses in 42 countries that is committed to using business as a force for good.

B Corps are required to change their legal documents so that employees, communities and the wider environment rank alongside shareholders in decision making processes. They formally commit to the B Corp community principles through signing a declaration.

Between them, the UK B Corps have combined revenues of over £425m and over 3,000 employees, working across more than 10 industries.  The launch of B Corps in the UK represents the biggest initial community of certified B Corps yet seen globally.  

James Perry, Director at B Lab UK, said: “Britain has shaped so much of the modern global economy, and remains the world’s leading financial centre. But it’s obvious that the global economy needs to evolve so that profit, people and planet are all served by business. We must consign to history the idea that we have to choose between them. The B Corp movement is enabling businesses to make a positive contribution to all three. We stand on the shoulders of giants here, and are hugely grateful for the welcome we’ve had from an inspiring group of leaders from business, government and the social economy. We look forward to working together with them in this long term endeavour to create a new economy that serves people and planet as well as profit”.

Tim West, director of Matter&Co and also founding editor of Pioneers Post, said: “We’re very excited to be a part of this movement of innovative companies that are showing that good business can be purposeful and profitable at the same time. For us, certifying as a B Corp simply made sense – we’ve always been committed to these standards as a business and the official certification helps us to demonstrate the value that this brings to our clients across the business and social sectors. It will also help us to be better – to set performance indicators over the next few years, improve our ‘triple bottom line’, and get inspired by other B Corps doing great work around the world.”

"Profit, people and planet are all served by business. We must consign to history the idea that we have to choose between them." – James Perry

Michele Giddens, Co-founder and partner at Bridges Ventures, a social investor and certified B Corp, said: "At Bridges, we have spent the last 13 years investing in businesses combining commercial success with positive social or environmental impact. So we are very excited about the official launch of the B Corp certification in the UK.  We hope it will give even more impetus to this burgeoning 'profit with purpose' movement, and raise awareness of the enormous value it can create, both for investors and for society as a whole."

The launch today pays homage to the legacy of the UK in shaping and setting the pace for change in the markets over the last 200 years, starting from the Quakers and Rochdale Pioneers. 

The B Corp movement has gathered phenomenal momentum in the UK as investors, commissioners, employers and consumers recognise that companies which create positive social and environmental impact, and which treat their workers with respect and operate with good governance, are the best of businesses.

Peter Holbrook, CEO of Social Enterprise UK, said: “The UK’s vibrant social enterprise community welcomes mainstream businesses intentionally creating social and environmental value. This generates the change that we all know is needed, so that markets serve society rather than the other way round.”

The energy of the UK B Corp community joining the global movement is being captured at a high profile launch event today in Camden. Over 500 attendees from global and UK B Corps will come together with sponsors, business leaders and senior policy makers to celebrate the launch of the B Corp movement in the UK.

Any business interested in people, profit and planet should consider becoming a B Corp. To find out more, visit: www.bcorporation.uk.

Read A Millennial's Quest for Social Impact at Work and watch the film we made for B Corporation UK earlier this year on the Matter&Co blog.

List of 62 UK founding B Corps (alphabetically)