Business First Family Business, Accounting, Finance, Investing, Marketing And Management
Starting your own business is an exciting time. However, with so types of business structures available to you, it can be difficult to decide which organizational type is the best one for your company. One of the structures you may wish to consider before worrying about your corporate seal is called a B Corporation, or Benefit Corporation. B Corporations have a ton of advantages over traditional LLCs or C Corporations. If you are considering starting a B-Corp, find out what advantages you may experience below.
What Is A B Corporation?
A B Corporation is an organizational structure type that offers your business and the public benefits. Benefit corporations must uphold certain standards of social and environmental performance. In addition, they are expected to meet rigorous guidelines regarding accountability and transparency. B corps are taxed like C Corporations. However, they operate at a higher moral standard than traditional business models. B Corporations must benefit the community at large, as well as employees and business partners. It is not just about the bottom line.
For-Profit
Unlike forming a non-profit organization, Benefit corporations are a for-profit entity. That means you can actually make profits off of your business. On the other hand, you will still have your business in an incredible position to do good for the general public. If you want to do good and make money all at once, a B corporation is an excellent business structure to choose once you have decided on a logo design.
Excellent Marketing And Branding
Becoming a certified B-Corporation offers excellent marketing and branding potential for your organization. When you get certified, you are demonstrating to your customers that you care about the environment and overall business ethics. Conscientious consumers will flock to your store. They appreciate the ability to shop at an establishment that aligns with their values. That is why the marketing and branding potential offered by B Corporation certification cannot be understated.
Cost Efficient
Getting B-Corp certified is also a cost-efficient way to measure your business’s carbon footprint and environmental impact. Many business owners who are environmentally conscientious become a B corporation as a low-cost method to make sure there business is as green as possible. If you are ecologically conscious and want to make sure your business reflects that, becoming a certified B Corp is the cheapest way to do that.
Attract Top Talent
When employees know that your business has a high standard for business ethics, they will definitely want to work for you. B corporations offer value to all stakeholders, including employees all the way up to the female president of the company. This will help you to recruit top talent for open positions at your organization. When employees feel a part of something, they will work harder and achieve the best possible results every time. If you want to secure the most talented job-seekers for your business, become a certified B Corporation.
B Corp certification is an excellent way to identify your business as one that is morally, ethically and environmentally conscious. This will set your business apart from the competition, helping to bring conscientious consumers into your store. If you want to experience the benefits mentioned above, find out how to become a B Corporation. You are sure to not regret it.
Photo from https://peopleplusprofit.org/si-hablamos-de-dialogo-las-personas-primero/
