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Doing Good Business
Companies who make a positive social, environmental, and economic impact are often considered "doing good." Some of these companies have gone on to become a certified B Corporation and explicitly use business as a force for good.
The Certified B Corporation designation is earned by companies that are focused on environmental and social change in addition to monetary profits (the triple bottom line). B Corps are certified by B Lab, a nonprofit organization that believes in unifying companies around the world with their goal of making high ethical standards for business practices the new norm.
There are several certified B Corps throughout Michigan. These companies are providing high-quality jobs, working to reduce their negative impact on the environment, and raising the bar for how we do business. B Corps have demonstrated greater revenue growth when compared to public firms of similar size between 2006 and 2011. They were 63% more likely to survive the 2008 recession than companies not certified, and since the 2008 recession, B Corps have shown an annual survival rate of 90-99% compared to the 69% average of US small businesses.
Check out the B Corporation process by accessing The Small Business Guide to B Corporations in Michigan, developed by Good for Michigan and the Michigan Small Business Development Center, and viewing the webinar below.
Becoming Good For Michigan
This webinar can be viewed here.
In this webinar, Good For Michigan Program Director, Alice Jasper discusses how businesses and communities can take charge of their future by assessing their present social and environmental impacts and creating a roadmap to a sustainable and financially secure future.
Who Should Watch:
Downtown development authority executive directors, main street directors and other downtown management organization or municipal staff who desire to support small businesses.
Objectives:
This webinar is sponsored by Michigan Economic Development Corporation and Good For Michigan.
Next Steps:
Community Development Organizations interested in hosting a live training for small businesses (referred in the Webinar as a "hackathon") that will walk them through accessing the portal, creating a profile, and explain how they begin the B Impact Assessment and SDG Baseline should email Small Business Program Manager Suzanne Perreault at perreaults@michigan.org with interest. Technical assistance is also available and is customized to the needs of each business. Creating a profile and beginning the assessment is the first step the business will take in order to receive one on one technical assistance from Good For Michigan.
You can learn more about Michigan’s Good For ecosystem, the businesses that are currently engaged and resources events available through Good For Michigan’s website as well.
