Why we decided to certify as a B Corp
We are not just a PropTech company
As a social impact tech company we want to make the world better for communities and empower diverse voices to be at the centre of changemaking. Whilst profitability allows us to make a huge impact; to achieve our full potential, we must place as much priority on social & environmental impact.
We want diverse voices in communities to have a constructive, tangible impact on decisions that impact them. Whether it is a community of people brought together by place and geographic boundaries; or a community of people who share the same interest; or a community of people trying to bring about change.
This is why becoming an accredited B Corporation was a no brainer. It validates our purpose and challenges us to not be complacent in our mission.
What makes us a B Corp and how are we doing business differently?
Taking the step to undergo the rigorous assessment process to become a B Corp was driven by our authentic commitment to build trust & rapport with the communities we engage.
Maintaining this public trust underpins our KPIs. We generate unrivalled engagement metrics not only because we make it quick, fun & easy but because our tech-for-good brand positioning enables the people receptive to change to overcome their cynicism or apathy towards consultation – as long as they can trust a Give My View project’s impact is not a foregone conclusion, they have a compelling motive to engage.
However, it is easy to become blindsided by one’s own hype. Therefore by opening our business up to the thorough scrutiny of the B Corp verification process, we can guarantee that we are working to the highest standards of performance, accountability, and transparency and not our own subjective definitions.
Through our pro bono projects we have been privileged to support charities and social impact organisations addressing pressing social & environmental issues. And we look forward to doing much more.
What we learned from the B Corp verification process
Our current score on the “B Impact Assessment” (BIA) is 126.3 out of 200, the minimum score to achieve certification is 80. Whilst we are pleased with our first result as a young, small organisation, we know there is more to learn and improve.
The B Impact Assessment is an in depth questionnaire that analyses five main areas of a business impact:
Unsurprisingly, our highest scores were in the workers and community impact areas which is testament to the ethos and values of our company. The workers impact area measures how well we contribute to our employees’ financial, physical, professional, and social well-being while the community impact area measures our contribution to the economic and social well-being of the communities we operate in.
We are certainly not going to rest on our laurels, our next step is to evaluate each impact area and put an improvement action plan in place. As our lowest score was in the environment impact area, we are focusing on improving our overall environmental stewardship as a priority this year. We’d love to hear of any initiatives or ideas other small companies have implemented!
A collaborative journey
As a shareholder-owned company, it was crucial to bring our shareholders on the journey by engaging in transparent discourse that addressed any concerns and risks.
In order to achieve B-Certification, we needed to change our corporate governance structure by amending our Articles of Associations to include a clause which states that the objects of the company are to promote the success of the company for the benefit of all its stakeholders and through our business and operations, to have a material positive impact on society and the environment.
In the words of Robert Shiller, Professor of Economics at Yale & 2013 Nobel laureate “Through greater appreciation of the real motives that drive & excite people, B Corporations provide a significant new opportunity for investors. I think they could make more profits than any other types of companies”
We are grateful to our shareholders for trusting our leadership and vision to continue to make Built-ID a force for good and to play our part in transforming the global economy to benefit all people, communities, and the planet.