B Corp FAQs
We talk to people about B Corporations a lot so here's a list of the most frequently asked questions for you convenience! If you have further questions,
WHAT IS A B CORP CERTIFICATION?
B Corp is a social and environmental business certification for for-profit companies. The company goes through a rigorous assessment, the Impact Assessment (which by the way is a free tool for anyone to take at any time!), that measures the company's impact on all stakeholders.
B Corporations are a new kind of company which uses the power of business to solve social and environmental problems. We've joined a community of over 1,000 B Corporations across more than 60 industries in 34 countries with 1 unifying goal - to redefine success in business.
Read more at BCorporation.net
WHY SHOULD I BE A B CORP?
The B Corp certification promotes business transparency, provides a benchmark to improve, generates press, protects your social and environmental mission, and you get to become part of a really ballin' community of like-minded people.
Read more about the benefits of B Corporations here.
DOES SIZE (OF THE BUSINESS) MATTER?
Nope! B Corps range from 0 employees (with at least 1 owner) to hundreds of employees. Each B Corp Impact Assessment is catered to the number of employees that the business has so they won't lose points if they have less employees.
How much does it cost?
The annual fees for a B Corp Certification are tiered based on your annual revenue starting at $500 per year and go up to $50,000 per year. Read more here.
How long does it take to become certified?
This also varies based on how well your company keeps track of its own metrics and the size of the company. A smaller company is more likely to have easy access to information like human resources, finances, governance, etc. but for a company with bigger departments, this may take some time to get everyone in the same room.
Forsei assists with this process by helping you identify relevant materials and documentation that you will need to complete the Impact Assessment. Read more about our process here.
What's the difference between a Benefit Corporation and a B Corp?
We're glad you asked! Benefit Corporations and Certified B Corps are often confused. Both are sometimes called B Corps by mistake or as shorthand. They share much in common and have a few important differences.
Certified B Corporation is a certification conferred by B Lab. It provides companies with independent verification of their social and environmental performance, and, as a result, access to an array of support and services. Benefit Corporation is a legal status administered by the state. Benefit Corporations do NOT need to be certified by B Lab or anyone else.
Forsei Consulting is a Pennsylvania Benefit Corporation AND a Certified B Corp.