Hosted by B Lab’s

Featuring: Amy Rosenblum, Cultivation Center

Steps to B Corp Certificationwith Cultivation Center

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

• I’m a skeptic

• N/A

▪ Review: What is a B Corp

▪ Certification Process

▪ Tips for Success

▪ Timeline

Agenda

What is a B Corporation?Certified B Corporations are using the business as a force for good.

• Over 1,500 companies in 42 countries

• B Corps meet higher standards of social and environmental performance, transparency, and accountability

• B Corps are Certified by the non-profit B Lab

• B Corp is like fair trade, organic or LEED certification but for the whole company, not just a bag of coffee or a jug of milk

The B Corp Community = Good Company to Keep

Cultivation Center

Better Business. Bigger Impact.

Connect and consult with community-minded businesses to strengthen infrastructure and create impact.

● Strategy● Leadership & Governance● Community Building● Social Impact● Fundraising

Learn more about Cultivation Center at: https://www.bcorporation.net/community/cultivation-center

What is a B Corp?

Earn a verified score of 80 points on the B Impact Assessment

Give the company legal protection and permission to consider all stakeholders.

Make a profile showing topline performance on Bcorporation.net.

80+

To learn more, visit:www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp

• A certification conferred by the nonprofit 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.

Certified B Corporation

• A legal entity that has protection and permission to consider its impact on all stakeholders, not just shareholders.

• Most benefit corporations are required to create annual reports on their positive impact.

• B Lab is an advocate behind the legislation

Benefit Corporation

Benchmark performance

Attract and Engage Talent

Save Money and Access Services

Partner with Peers

B Corp Certification helps companies:

Show Leadership

Differentiate from Pretenders

Generate Press

Attract Investors

Watch the first webinar in this series:www.bcorporation.net/videos/webinars

Why We Became a B Corp

● LLC didn’t do us justice

● Community

● Values alignment

● Access to our network

● Helped us live our values

● Differentiated our work

Benchmark & Improve PerformanceAssess

Compare

Improve

B Impact Assessment: Measuring What Matters

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

Benchmark & Improve Performance“The B Impact Assessment added a new twist to

our initiatives – it helped us understand where we

are in comparison to other companies.”

Rob Michalak

Maintain Mission

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

Maintain Mission

Learn more about the legal requirements here: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp

• A certification conferred by the nonprofit 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.

Certified B Corporation

• A legal entity that has protection and permission to consider its impact on all stakeholders, not just shareholders.

• Most benefit corporations are required to create annual reports on their positive impact.

• B Lab is an advocate behind the legislation

Benefit Corporation

Commitment to Transparency

See more examples at: www.bcorporation.net/community/find-a-b-corp

• 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 Become a B Corp?

*More on legal requirements and process for start-ups coming in a few minutes!

** For more on Pending B Corp, visit: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp

Poll:

What is your next step?

• Start or complete the B Impact Assessment

• Improve my score to be over 80

• Meet the legal requirement

• Complete documentation

• Engage my team internally

Process and Tips: Six-Step Plan

Step 1: Get a Baseline

Step 2: Engage Your

Team

Step 3: Assessment Review

+ Documentation

Step 4: Implement

Step 5: Fine Tune

Step 6: Celebrate and

Continuous Improvement

Step 5: Final

Documentation

Step 6: Finalize

Certification

OR

Step 1: Get a BaselineTimeline: 1.5 – 3 hours over 1 week

❑ Create a B Impact Assessment Login

❑ Take a first pass of assessment

❑ Review initial score

❑ See how you stack up compared to 20,000 + that have taken the assessment

Step 1: Get a Baseline• Visit www.bimpactassessment.net to get started

Step 1: Get a Baseline

Step 1: Get a Baseline• Take a first pass – estimates are great at this stage

Step 1: Get a Baseline

• Take a first pass – estimates are great at this stage

Step 1: Get a Baseline

Step 1: Get a Baseline

• Use ‘Revisit This’ and make sure to save your work

Step 1: Get a Baseline

Step 1: Get a Baseline

Step 1: Get a Baseline

• Impact Business Models Section

Step 1: Get a Baseline

Step 1: Get a Baseline

B Impact Assessment FAQ’s

• I am a sole proprietor – how do I get into the right track of the assessment?

• We have a virtual office – how do I answer questions related to our facilities?

• Our company has operations in more than one region

• Which year of data should I use when completing the assessment?

Visit http://bimpactassessment.net/how-it-works/frequently-asked-questions for more FAQ’s

Steps for Start-Ups

• Start-Ups can apply for Pending B Corp Status

• Take B Impact Assessment prospectively

• Make legal change• More on this in a few minutes!

• Pending status lasts for 1 year

Visit http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp for more info

Step 2: Engage Your Team Timeline: Varies based on existing tracking / information

❑ Identify the right people to engage: • Human Resources • Operations• Finance

❑ Explain Objectives and Benefits

❑ Assign Questions

❑ Update Your Assessment

❑ Start conversations about the legal requirement

Documents to Gather In some cases, it may be easier to gather information from your team and respond to assessment questions yourself. The following will be helpful for you:

✓ A payroll register/employee roster ✓ Employee handbook✓ A list of our "significant suppliers," which we define as our top

80% of suppliers/vendors by dollar volume.✓ A breakdown of revenue from our various products and services✓ A P&L ✓ Any resource use tracking (energy, GHG's, water, etc.) ✓ Any sustainability / corporate social responsibility goals, reports,

progress tracking

Step 2: Engage Your Team

Step 3: Documents + Review Call Timeline: 2-3 weeks, 90 minute call

❑ Submit Assessment for Review (90% complete)

❑ B Lab Staff will Schedule Call

Step 3: Documents + Review Call Timeline: 1-2 hours

❑ Submit Operations Documentation

❑ Examples: - Employee handbook - Breakdown of suppliers

by location- List of board members

❑ Review Assessment, refine score

Step 4: Implement Timeline: Varies

❑ Use Action Plan and Best Practice tools within the assessment to identify areas to improve your score

❑ Start with the short term / easy to implement items first

Step 4: Implement

Best Practice Guides

Step 4: Implement

Steps 5 + 6: Fine Tune & Continuous Improvement

Fine Tune & Continuous Improvement

Timeline: Varies, 2-6 months on average

❑ If your score is below 80, use this opportunity to fine tune your plan to improve your score and deepen impacts ❑ Celebrate success! Each action you take is moving you down the path toward

becoming a better company!❑ Develop a timeline for certification & share with your team

Step 5: DocumentationTimeline: 2-3 Weeks

❑ If your score is above 80, congratulations! You’re ready to move forward certification

❑ Upload additional documentation to

verify your score ❑ Finalize score with B Lab staff

Step 6: Finalize Certification Timeline: 1-2 Weeks

❑ Understand your legal requirements

❑ Sign the term sheet and pay annual fees

Legal Requirements Legal Requirements❑ Determine your path based on corporate

structure and state of incorporation: ▪ Amend your governing documents OR▪ Adopt benefit corporation status

Examples: ❑ LLC in the United States: Amend operating

agreement ❑ Delaware Corporation: Adopt Benefit

Corporation form within 2 years of certification

Learn more about the legal requirements here: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp

Step 6: Finalize Certification

Legal Requirements Term 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)▪ Annual certification fees based on the tiered structure, as outlined below:*

Company Revenue Fee$0 - $499,999 $500$500,000 - $1,999,999 $1,000$2,000,000 - $4,999,999 $1,500$5,000,000 - $9,999,999 $2,500$10,000,000 - $19,999,999 $5,000$20,000,000 - $49,999,999 $10,000$50,000,000 - $99,999,999 $15,000$100,000,000 - $999,999,999 $25,000$1B+ $50,000+

Step 6: Finalize Certification

Resources

▪ B Corp Press: http://www.bcorporation.net/news-media

▪ How to become 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 Certification for Start Ups: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp/steps-start-ups

▪ B Impact Assessment: http://bimpactassessment.net/

▪ Case Studies: http://bimpactassessment.net/case-studies

Next Steps

• Start the the B Impact Assessment: www.bimpactassessment.net

• Learn more about the B Corp Certification: www.bcorpororation.net

• Sign up for another webinar: http://bit.ly/1R038YK

• Have questions? Contact us at:

jessica@bcorporation.net or 610-293-0299

Join us.

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.