How to Become a B Corp and Measure Your Impact

LIVE at The Line Hotel in Adams Morgan in partnership with Full Service Radio... 

Do you run a small business, or have dreams to start one? Each week on The Tidbit, brought to you by Cureate, we discuss tidbits of knowledge around starting and running a small business with a food and beverage lens. Show host Kim Bryden sits down with guest experts and shares trending new topics on food, business and culture to help best prepare you for your business journey. 

EPISODE 20: HOW TO BECOME A B CORP AND MEASURE YOUR IMPACT

A FEW QUOTES

  • At Cureate, we’re on a mission to shift purchasing dollars back into local economies; while strengthening our small business community through access to education and resources. That first function: shifting purchasing dollars. How do we do that? Well we have a procurement platform where Buyers issue RFPs (request for proposals) to small business owners to bid. We’ve created a competitive, transparent local marketplace for big and small to do business with one another. We’re also able to see the trends in supply and demand - what types of products are small businesses producing vs. the ASK of the Buyer - and how much alignment is there really. This is a very unique position to be in.

  • B Lab is a nonprofit based near Philadelphia - who issues the B Corp Certification.

  • Employees, Suppliers, Environment, Community, etc. are all considered for B Corp Certification.

  • 2500 B Corps Certified in the United States, and B Corps are located in 150 different countries - 12% of companies are food & agriculture based companies.

  • 200 question survey focused on governance, community, workers, customers, and the environment.

  • Why should food companies consider becoming B Corp?

  • When you look at what food & agriculture is, what you're putting into your body, you want to have food that is sourced locally, organically - shipping grapes in from Chile is not environmentally friendly. [...] A lot of aspects of food, you can see that it's all interconnected.

  • 68 cents of every dollar goes back into the local economy when you buy from a small business

  • When we talk about building food businesses, we may talk about different aspects of business in silos - food safety links to sourcing links to your mission. It's all interconnected.

  • Certification fees range from $500-$50,000 depending on your revenues.

  • B Impact Assessment: https://bimpactassessment.net/
     

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