How much does it cost to become B Corp certified?
How much does it cost to become B Corp Certified? Now, there’s a question!
Firstly, are we talking about the actual fees, or taking into account the time and resources? In this blog, I will break it down for you.
B Lab’s Fees
In the UK the fees payable to B Lab are based on turnover. They are split into a submission, verification and annual fee. You can see from the table below what those fees currently are for your business. Businesses that have 50% or more ownership representation from some minority groups are eligible for a 40% reduction in the annual fee.
Additional Costs
On top of the B Lab fees, you need to consider the time implications internally, and cost of a B Corp consultant if you choose to use one. Both vary hugely, firstly as the requirement complexity depends on size and sector, and secondly because businesses begin the process from different points. For example, a large company may need to enlist a third party to assess their carbon emissions.
An aspiring B Corp has to make amendments to it’s legal wording - usually Articles of Association in the UK - and this also needs to be considered. The fee for using an external company for this can range from several hundred pounds to several thousand depending on the complexity and the legal firm you choose to use.
Time Required
As an estimate, an in house B Corp lead needs to commit at least 2 full days a week if they are leading the process with no support. This is likely to lead to being ready for submission after 9 to 12 months, and may need extra time if they are not familiar with the requirements and terminology.
With that in mind, it is a very common mistake that B Corp is given to someone as an add on to their already full job. This makes the process very difficult, as one or the other suffers - usually it is B Corp that slips down the list as the day to day work cannot, and therefore progress stalls.
How much is a B Corp Consultant?
Wellllllll, how long is piece of string! The support B Corp consultants offer ranges from low cost light touch group cohort courses (check out my B Corp Launchpad if that interests you) to higher investment, intensive support.
The majority of my clients choose B Corp Complete - this is a ‘do it with you’ programme where I work closely with you through the entire B Corp process. The investment for the entire programme starts from £7000 for micro companies to £10,000 for small companies and £17,000 for medium, as per the B Corp sizing guidelines.
Whilst this investment is not small, I take deep pride in working closely with a small number of clients, ensuring that B Corp becomes fully embedded in the company and that you are set up for long term success.
I do also offer lower investment options that may be more suitable to your business, and I am always happy to have a conversation to discuss whether B Corp is right for your business, and if Planet & Purpose is the right fit to support you on your journey.
This is me, in my office at home with my dog curled up on my feet. If you have any questions, please always just ask!
I know full well how overwhelming the B Corp process can be, and I am hear to take that feeling away and replace it with clarity and direction.
Please consider signing up to my mailing list and if you would like to discuss how Planet & Purpose can guide you on your B Corp or Impact journey please contact me.
Speak soon 💚
Laura
