B Corporation: Do the barriers to getting certified outweigh the benefits of being a Certified B Corporation?

Today’s society faces a lot of challenges, and running a business has never been such a complex task. Namely, businesses need to deal with the environmental challenges and be concerned with social issues. A way for companies to show their commitments to respond to the social and environmental issue is getting the B Corporation Certification, a certification granted to for-profit organizations meeting social and environmental requirements. B Corp knows an increasing success and the amount of companies getting certified is increasing every day. In spite of the infatuation of the phenomenon, there are many fair and responsible businesses that do not show sign of interest towards the certification. Hence, there should exist different barriers and risks related to the B Corporation Certification that would dissuade companies to undergo the process of getting the certification. Through an empirical research and cases studies with both B Corps and non-B Corps, many aspects of the B Corp Certification have been analyzed. Mainly, the benefits of B Corp have been analyzed: it is a worldwide recognition having a holistic approach that also provides guidance on how to improve a company’s practices. Being certified has a positive impact on stakeholders; it also allows accompanies to join an inspirational network, and certified organizations have the opportunity to lead by example. However, regarding the barriers to the certification, mainly, the fact that the certification procedure takes time, and that B Corp is not well known have been mentioned. However, this should not generally not dissuade companies to enter the process. Indeed, not only does the amount of benefits surpass the number of barriers but these barriers can also be relatively easily overcome. All in all, through analyzes, it can be concluded that the B Corporation Certification is a growing movement that is mostly perceived as very positive, both when looking at empirical studies and at companies. Hence, B Corp has a lot of potential. However, it should evolve more in Europe, in order to create a more positive impact. Companies should thus be encouraged to start the process if it comes from and internal desire and if it aligns with their values.