B Corp. Certification Helps Companies Measure What Matters

Published by First Rate, First Rate
August 25th, 2014

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More than a 1,000 companies in 34 countries across 60 industries are classified as B Corps. Each company has made a commitment to “b a force for good” and has embraced a higher level of transparency, accountability and purpose. The B Corp umbrella provides measurability to assess and help redefine success in business.  All B Corps are certified by By Labs, a 501c(3) nonprofit organization, tasked with overseeing the assessment process.

The idea of an entity like a company being intrinsically committed to the greater good can easily be construed as relative or abstract, but B Labs goal through assessment is to provide tangible evidence through certification, which in turn shines a light on companies that are truly committed to excellence. Becoming a B Corp is a 3 step process; Companies must:

  1. Meet Performance Requirement: Complete the B Impact Assessment and earn reviewed minimum score of 80 out of 200
  2. Meet the Legal requirements: Determine the path for your corporate structure and state of incorporation.
  3. Make it Official: Sign the B Corp Declaration of Interdependence and Term Sheet

In essence, B Corp is “to business what Fair Trade Certification is to coffee or LEED certification is to green building . . .  and B Corps use the power of business to solve social and environmental problems.”

At the core of First Rate’s vision, mission, and purpose are love, give, serve, and enjoy. We became a B Corp to join, support and identify with the movement of other businesses that want to serve more than just its shareholders, employees and customers.b-corp-profile-1024x685

First Rate is striving to transform the business community to engage its human resources and financial resources in all non-business spheres of society: education, government, media, entertainment, family and religion.

About the Author: In 1991 First Rate entered the investment community with a flagship product for building returns and performance reporting. This single application with its core performance calculations became the foundation of First Rate. Over the years, our services and solutions have embraced new technologies and expanded to address the changing needs of a challenging industry.

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