3 steps to becoming a certified B Corp

5-minute read

B Corporations, or B Corps, are businesses that act in ways that benefit society, as certified by B Lab. What defines them is their belief that a company’s purpose goes beyond profits and includes contributing to the greater social and environmental good. 

This movement of people using business as a force for good has exploded since B Corp certification was launched in 2006. More than 9,900 companies in 103 countries and 160+ industries are now certified B Corps.  

BDC has been certified as a B Corp since 2013 and was the first financial institution in Canada to receive the certification.

Don’t wait until you’re perfect to get started, because the application process can help you improve.

What is B Corp certification?

B Corp certification is a designation, based on a rigorous assessment, that indicates your business meets B Lab’s Foundation Requirements and Impact Topic Requirements across seven areas and is committed to continuous improvement.

Purpose and stakeholder governance

It all starts with a clear purpose. B Corps include social or environmental elements in their mission, involve stakeholders in decisions that affect them and put a process in place to handle complaints.

Leadership, and not just the team managing the file, must play an active role the B Corp certification process.

“We still see too many B Corp processes confined to an isolated committee, with little involvement from leadership,” says Thomas Ferland-Dionne, co-founder of Boite Pac, a firm that guides companies through B Corp certification. “The purpose and stakeholder governance standard addresses this, and that’s a positive step forward.”

Fair work

B corps focus on employee experience. They have clear schedules, provide a living wage, transparent pay structures and meaningful ways for employees to be heard.

These aren’t flashy initiatives. They are essential practices. Regular one-on-one meetings, an annual engagement survey and a documented pay grid (depending on the size of your business) are simple steps that can make a real difference.

Justice, equity, diversity and inclusion

B Corp certified companies have a clear and actionable plan for justice, equity, diversity and inclusion.

This includes:

  • inclusive hiring practices
  • internal communication guidelines
  • training for all employees, including leadership
  • transparent reporting on progress

Some organizations go further by offering paid leave beyond legal requirements. It’s a concrete way to turn values into action.

Human rights

B Corps are encouraged to identify human rights risks across their operations and value chain.

It requires openness: recognizing real risks, documenting them and building a plan to address them. This can in turn strengthen trust with your stakeholders.

Environmental stewardship and circularity

B Corps take responsibility for their environmental footprint by prioritizing sustainable resource use, ecodesign, and sustainable procurement.

Beyond environmental best-practices, such as tracking waste production, energy use and water consumption, B Corps should also assess their environmental impact across their supply chains. The goal is not perfection, but a clear starting point and a commitment to continuous improvement.

Climate action

B Corps have a publicly accessible climate action plan to limit global warming. Larger companies should also include greenhouse gas emissions and targets.

Your plan should include:

  • clear, measurable goals (known as SMART objectives)
  • dedicated resources
  • consideration of stakeholder impacts

These are formal commitments, not general intentions. Your plan must show alignment with global efforts to limit climate change.

Government affairs and collective action

B Corps recognize that companies play a role in shaping a more equitable economy.

Depending on their context, companies may want to take actions like:

  • speaking publicly on relevant issues
  • supporting peers in their sector
  • collaborating with community organizations
  • contributing to systemic change

What are the benefits of becoming a certified B Corp?

Certification carries numerous benefits.

  • A greater understanding of your potential
    The assessment and certification process helps you clearly define your company’s impact.
  • Improved operational performance
    The certification cycle requires ongoing maintenance, including Year 3 audits, which promotes continuous improvement.
  • Trust in your brand and increased credibility
    This is a true perk given that today’s consumers are skeptical about “greenwashing” and likely to question claims.
  • The opportunity to differentiate your business from industry competitors
    Thanks to third-party verification, many B Corp companies become industry leaders.
  • An improved ability to attract, engage and retain talent
    Employees want to see their values reflected in the organizations they work for.

However, as valuable as these benefits are, the most significant gains are made during the certification process. That’s because the program is designed to help companies understand how to maximize impacts in every area of their company.

The companies that get the most value from this process are those that approach it as an organizational transformation project, not a compliance exercise.

Carla Heim, Director, Sustainability at BDC, agrees that going through the certification process is valuable. “It requires taking a close look at how you run your business. It engages the entire workforce, gets them focused on what they do well and points out where you can improve.”

The B Corp assessment is comprehensive and somewhat daunting. A poorly managed company will not pass. As a result, B Corps tend to be highly successful and at the cutting edge of innovation, good governance and corporate citizenship.

These companies are just as profitable and resilient as traditional businesses. But they have advantages when it comes to brand differentiation and employee recruitment.

“Entrepreneurs who invest in their employees and their community are the ones who turn heads,” Heim says. “Employees want to work with them and consumers want to buy from them.” 

How to get B Corp certification?

Businesses must complete the updated Assessment Setup and Foundation Requirements, including the newly available Risk Profile, before continuing with the Self-Assessment.

1. Believe in the power of business as a force for good

B Corp entrepreneurs are committed to a vision of business contributing to the public good. They believe that the purpose of a company is to create inclusive, environmentally sustainable prosperity.

They also aim to be financially viable. B Corp certification is reserved for eligible companies that earns most of their revenue in a competitive market. Organizations that do not meet B Lab’s eligibility criteria may be excluded. Some companies may be ineligible if they are significantly involved in industries or activities that conflict with B Lab’s Theory of Change, which rests on three pillars: racial equality, climate justice and a policy agenda that dismantles unfairness across economic systems.

To become a B Corp, your business should have clear, specific social or environmental goals. It should also be managed transparently and be accountable to stakeholders, including the local community.  

2. Take the B Impact Assessment

If you think joining a movement of people trying to harness the power of business to make positive change in the world might be right for you, then the next step is to find out if your business is eligible for certification.

The B Impact Assessment measures your company’s economic, social and environmental impacts and is a key part of the certification process. It helps businesses complete their self-assessment, provide evidence and understand how they perform against B Lab’s applicable requirements.

It also allows you to benchmark your social and environmental performance against other companies. “It’s a really good health check for your business,” Heim says. 

“The companies that get the most value from this process are those that approach it as an organizational transformation project, not a compliance exercise,” adds Ferland-Dionne.

Anybody can take the assessment at any time, and it’s free. Even if you don’t pursue B Corp certification, the assessment is quite enlightening.

You can complete the B Impact Assessment as a free self-assessment.

If you decide to pursue B Corp certification, you will then need to submit your results to B Lab for verification. An independent, B Lab-approved Assurance Provider conducts the audit and makes the certification decision. B Lab issues the licence after the certificate is issued and your company signs the licence agreement.

3. Change your articles of incorporation

When you’re ready to formally join the movement, the next step is to change your company’s articles of incorporation to enshrine its commitment to a broader societal purpose.

This is the key tweak that differentiates B Corps from traditional companies. B Corps are required not only to create shareholder value, but also to account for the impact of their actions on other stakeholders.

The timing and process for meeting the legal requirement vary by company size, legal structure and jurisdiction.

What are some pitfalls to avoid?

Trying to do it all alone.

B Corp certification requires input from across the organization. “It takes a team. This isn’t a one-person project,” notes Ferland-Dionne. Treating it as a solo project increases the risk of burnout and often leads to weaker results. 

Waiting until the last minute.

Certification takes time, especially when gathering documentation. Starting early gives you the time to do things properly and avoid unnecessary pressure. 

Treating each initiative separately.

Strong B Corp processes don’t rely on one-off initiatives. Instead, they build on existing practices and integrate improvements into day-to-day operations, which creates more lasting value. 

“Tie the process into your business strategy,” adds Ferland-Dionne. “It’s the best way to make it work.” 

Underestimating the time investment.

A well-managed application requires between 80 and 100 hours of internal work spread across the organization. Still, the full process can take at least 12 months. Once you apply for certification under the new standards, B Lab estimates the process from submission to certification can take about two to six months, depending largely on audit findings and major nonconformities. 

The process can sometimes take a bit longer for smaller organizations because they may be following policies that are not formally written down. 

After the application is submitted, it can take up to seven months to be approved, depending on wait times.  

How much does B Corp certification cost?

Annual certification fees are based on gross annual revenue, with higher tiers for larger companies. B Lab publishes its annual certification fee pricing on its website.  

Companies certifying for the first time will need to pay for third-party verification and relevant fees.   

Do small and mid-sized businesses get B Corp certified?

Many people wonder if small and mid-sized businesses can achieve it. Yes, if you take it step by step. B Corp certification is more than something you add to your website or your packaging. It’s a process that helps you review how your business works, fix what needs improvement and build on what you already do well. 

Staying B Corp certified

Once you’re certified, the job isn’t done. Certification is actively maintained through the certification cycle, including monitoring and Year 3 audits, with recertification requirements at the end of the cycle.

The system is designed to support continuous improvement. Over time, certified companies must meet higher performance requirements across all standards.

Next steps

“B Corp is more than a certification,” Heim adds. “While the rigour and third-party verification provide credibility, the real value lies in the community. It is a network of leaders, innovators and changemakers who openly share knowledge, collaborate, and support one another. The more you engage, the more you learn—and the greater your opportunity to grow as a leader and create meaningful impact.”

Thinking of becoming a B Corp? Contact our team for more information.