Over the past several years, there have been a growing number of businesses that developed their business plans with more than making money on their minds. Many of these businesses have incorporated an element of ‘giving back’ into their model, which enables them to directly influence the world around them in a positive way.
A recent Forbes article highlights companies like Warby Parker, Whole Foods, and Patagonia who are doing just that. These companies are for-profit organizations, but some of their behavior mirrors that of a non-profit. So what do you call a company that works like this? B-Corporations. You call them B-Corporations. Or if you’re into abbreves, you can call them “B-Corps.”
“B-Corps are a new type of corporation to use the power of business to help solve social and environmental problems,” says Katie Kerr, of B Lab, a group that certifies and supports B corporations. “Government and non-profits are great,” says Kerr. “But if we can take the power of business to create more positive impact, we can create better communities, create better environments, and become a stronger positive force.”
While the idea to create a business model that gives back to the world is not new, we sincerely hope that more entrepreneurs and business owners will consider developing their business as a B-Corp. We have seen the positive impact of B-Corps, and the power of visionary leadership within these organizations.
Here’s to those who see business differently, to those willing to share their gifts and ideas with the world, and to those brave enough to follow empathy into the world of capitalism.
(Photo credit: Warby Parker)