Let’s talk B Corp! What do we know?

In the ever-evolving landscape of business, a new breed of enterprises is emerging, reshaping the traditional paradigm of profit maximization. B Corporations, or B Corps for short, are for-profit companies that prioritize social and environmental responsibility alongside financial success. 

B Corps are certified by B Lab, a global nonprofit organization that measures the overall social and environmental impact of a company. B Corps are assessed and recognized for meeting high standards for social sustainability and environmental performance.  

In celebration of the B Corp Month, SPRINT recently conducted research to understand the awareness and attitudes of Dutch general public on B Corps. Here are the key insights: 

Awareness Snapshot
  • Only 19% of participants are familiar with B Corp companies, of which 3% have experience with at least one B Corp company and 16% are familiar with the concept. 
  • 50% of participants admitted to having no idea what B Corp means, indicating a significant potential in raising awareness. 
Attitudes Towards B Corps
  • Despite the lack of familiarity, attitudes towards B Corps are overwhelmingly positive, with 67% of participants holding favorable views, 31% neutral, and only a tiny 2% expressing negativity.  
  • This positivity may stem from a shared belief among participants, with around 70% agreeing that companies should prioritize ethical practices (74%), sustainability (67%), and social responsibility (71%) over mere profits. Looks like the world is ready for more purpose-driven businesses! 
Purchase Intent
  • The impact of B Corp awareness on consumer behavior is evident, as 52% of respondents indicated an increased intention to purchase from B Corp-certified companies. It seems that when given the choice, consumers are eager to support businesses that align with their values. 

In conclusion, the enthusiasm and support for these purpose-driven businesses are clear despite the limited awareness. With many consumers prioritizing ethical practices, sustainability, and social responsibility, and a considerable proportion showing increased purchase intent, the future looks promising for B Corps.  

As awareness grows and more businesses embrace the B Corp model, we can anticipate a positive shift towards a more sustainable, responsible, and purposeful economy. Let’s continue to champion businesses that do good while doing well!