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.
Learn more about 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.