Consulting for Good
In light of an overwhelming response to last week’s post about the rise of the B Corp, I wanted to follow up on some of the questions that I received. Many in the community wanted to know more about how to become a B Corp from a practical perspective. I think most entrepreneurs understand the concept of the B Corp quite well and, based on the testimonials of existing B Corps, they are starting to understand the benefits of the certification to a company’s bottom line. In short, people get the why, they just don’t necessarily get the how or the when.
What sorts of companies should apply for a B Corp certification? When is the right time in a business life cycle to apply for the certification? Are there tax implications? Is an attorney necessary to apply? How long does the application process take? What are the costs of obtaining the certification? These are all questions that I received from entrepreneurs who had read last week’s post. And the truth is, I don’t have all the answers. Luckily, there are several consulting companies out there that do. Local companies like Cultivation Center, interSector Partners L3C, and Bluedot Advocates, have made it their mission to help companies navigate the intersection between being a for-profit business and a social enterprise, utilizing programs like the B Corp certification to help companies achieve their goals.
The Cultivation Center focuses on sharing best practices in the non-profit and social enterprise space and provides companies with expert consultants that will find creative solutions to pressing business challenges. interSector Partners, L3C enlists a cadre of experienced consultants to help for-profit businesses incorporate social responsibility into their daily operations. Bluedot Advocates, the first law firm in Colorado to become certified as a B Corp itself, can help companies navigate the B Corp certification process while providing legal guidance and structuring financing for emerging social ventures. Together, companies like these provide valuable consulting services for local businesses and they stand to make the path to good a much easier one to follow.