As the journey toward economic recovery begins, a survey of Bristol & Bath B Corps shows better businesses are more likely to prosper in 2021. The survey carried out in March 2021 to coincide with international B Corp Month found that over 90% of B Corp businesses in Bath & Bristol were predicting revenue growth in 2021 with 70% expecting to recruit in the coming year, compared to just 56% in February survey of UK employers from the CIPD.
Bristol & Bath B Corps are leading the way in other areas too, with over half of their board members being female (54%), compared to just 35% in FTSE 100 companies. 43% are majority employee owned.
Bristol & Bath B Corps are a group of 25 companies that have all achieved B Corp certification, meaning they hold the highest standards of sustainability and ethics. The assessment examines ownership structure, community support, treatment of customers and care for the environment. The collection of companies span several industries from waste to retail design, recruitment, travel, beverages and film. In 2019, they contributed over £30 million to the local economy.
B Corp companies are striving to promote ‘better business’ meaning they prioritise constant improvement to ensure they continuously exceed the expectations, demands and needs of society and the planet. Better business practices are more important than ever as we move toward a post-COVID era with 60% of consumers making more environmentally friendly, sustainable, or ethical purchases since the start of the pandemic*. A sentiment echoed by Bristol & Bath B Corps, all of those surveyed believe being a ‘better business’ encourages loyalty amongst their consumers.
Sustainability is at the forefront with B Corps in the West too. 100% of those surveyed have environmental goals over the coming 12 months including: tree planting, nature restoration, reducing raw materials, creating a circular economy, and becoming carbon positive. Over 70% of Bristol & Bath B corps have committed to Net Zero for 2030.
B Corps are active in the community too, over 70% take part in local volunteering and 85% support a charity or social enterprise.
Polly Grinnell, Chair of the Bristol & Bath B Corp group says: “We have a real opportunity for change, prioritising people and planet during this time of economic recovery. We urge more Bristol & Bath businesses to join the B Corp movement, adopting a better way of doing business, really does lead to a better business, economically, socially and environmentally.”