We're a Certified B-Corp!

After two years of paper pushing and questionnaires, we finally received our certification signage in the mail last week. Yep, that's right, folks - you're now looking at the first coworking space in Seattle to become a Certified B-Corp!

 

What are Certified B-Corps?

  • Certified B-Corps meet higher standards of social and environmental performance, transparency, and accountability. Basically, the label is like a Fair Trade certification, but rather than just for a bag of coffee, the B-Corp certification covers the entire business (i.e. USDA Organic certification, but not just for a carton of milk; LEED certification, but not just for a building). 
  • The performance standards are comprehensive and transparent. They measure a company’s impact on all its stakeholders (i.e. employees, suppliers, community, and the environment). Unlike traditional corporations, Certified B-Corps are legally required to consider the impact of their decisions not only on their shareholders, but also on their stakeholders (i.e. employees, suppliers, community, consumers, and the environment). 
  • As of June 2013, there are more than 750 Certified B-Corps from over 60 industries and 27 countries, representing a diverse multi-billion dollar marketplace. 

 

Five Reasons Why We Became a Certified B-Corp

At Impact Hub, we've always said that we are structurally agnostic. This means that we view for-profit and nonprofit business models as simply different tax structures. We believe that mission ultimately should guide choosing the right business model, and that sustainability is paramount (but can be achieved in many ways - that's innovation). 

We became a B-Corp for a number of different reasons, but five in particular stand out the most:

#1: B-Corps represent a new kind of company - one that utilizes the power of business in order to solve social and environmental problems. Not only that, but becoming a B-Corp doesn't mean that you are competing to be the best in the world, but rather, you are competing to be the best for the world. That's one competition we can really get behind!

#2: As a company in the business of building strong communities, we are the product of the individuals and organizations with whom we surround ourselves. We became a B-Corp because we wanted to be part of a community that shares our values, mission, and energy for creating the world in which we want to live. 

#3: We believe that communities are key to solving the most pressing social issues facing humanity today. Strong communities form even stronger and more vibrant cultures, and culture is ultimately what facilitates individual behavioral change. It is this individual shift that creates long-term, sustainable change from a bottom-up approach. Since our mission at Impact Hub is to build strong communities, we wanted to join an external community that can support the individual members within our walls.

#4: The B-Corp collective voice is growing, and as it grows, so too does its power to address systemic issues with current business standards. We want to be a part of that voice. 

#5: Currently, there are twenty Certified B-Corps headquartered in Seattle. We're excited to report that nine of those twenty are Impact Hub members, and all twenty of those B-Corps are connected to one of the anchor tenants within 220 & Change. We became a B-Corp because we wanted to put our money where our mouth is, so to speak!

PS: Give your fellow Impact Hub members (and B-Corps!) a shout the next time you see them: Bigger Boat, BMergent, Fledge, Ideal Network, NRG Insurance, Vox Legal, Swift River Consulting, Community Sourced Capital, One Pacific Coast Bank, & Bristlecone Advisors.

 

So there you have it. As we grow outwardly (our expansion space opens this Friday! Sign up for the first tour of the new space on Thursday, the 27th at 2pm), we're also growing sustainably.