Why we joined the Better Business Act
We live and breath our motto, ‘creativity with a conscience’ so joining the coalition was a no brainer. 77% of people in the UK want businesses to be legally responsible for their impact, both socially and economically, and we’re keen to be a part of it!
What is the Better Business Act?
Research by the Better Business Act shows that “UK voters and consumers want business to do better. Three quarters of the UK public think business has a responsibility to protect the environment and the majority favour brands that do good in the world.” And we agree. The act is aiming to transform the way we do business, so that every single company in the UK, whether big or small, takes ownership of its social and environmental impact.
How is the Better Business Act making change happen?
By changing the law that governs how businesses act, we can create change. Businesses need to align the long-term interests of people, planet and profit. That’s why the Better Business Act is urging all of Britain’s business leaders to call on the government to amend Section 172 of the Companies Act to ensure businesses are legally responsible for benefiting workers, customers, communities and the environment, while delivering profit.
How can businesses help make change happen?
To achieve this change a growing coalition of leaders from across all sectors and all regions of the UK are coming together to help deliver this new contract between business and society. The vision is that every business plays its part in creating a cleaner, greener, fairer future for all.
What have we done so far to support this?
Whilst it’s not a prerequisite to join the coalition, as part of our journey to become B-Corp we’ve already legally promised to consider the impact of our work on all stakeholders, just not shareholders by changing our articles of association on Companies House. This stakeholder-focused mindset separates B-Corps from other businesses.
The B-Corp legal requirement is designed to:
Provide a legal basis to allow directors to consider the interests of all stakeholders, not just shareholders, when making important decisions
Protect the company’s mission and values through capital raises and leadership changes, and give business leaders more flexibility when evaluating sale and liquidity options
Do you want to join the coalition too?
You can find out more about the Better Business Act and joining the coalition on their website.