Submission fee: all companies submitting their B impact assessment for verification for the first time are subject to a non-refundable submission fee of between €250 and €900 depending on annual turnover.

Annual certification fees: for B Corps companies, certification fees are then paid annually, and are calculated on the basis of your company's turnover. Rates are available here. They range from €2,000 to €50,000 per year

The timetable varies from company to company, depending on the complexity, structure, and current performance of the organisation. It is a considerable process and is not designed to be quick.

Here are the main steps in the standard process to give you a rough indication of timescales:

• Completing the BIA. Depending on the size of your business, the time resources, and people you commit to this stage, and the availability of your data, this can take anywhere from a few days to a few months.

• Identify and implement improvements. If the company has not achieved the required 80 points when it first completes the BIA, you need to identify the improvements that need to be implemented to achieve the desired score, and then incorporate them. Your baseline score, the difficulty of the improvements chosen, and your internal resources will determine the timeframe for this stage. In our experience, this can take from 2 months to 1 year.

• Submission and verification process. This is largely determined by B Lab's capacity and your level of preparation for the process. Due to the high number of companies applying, there is a queue of approximately 9 months to enter the assessment process. Once you are at the top of the queue and have been assigned an assessor, the actual verification process will take between 3 and 6 months.

Your company must be a profit-making business and must have been in operation for more than one year (the BIA uses data from previous years as part of the assessment).

Your company can be active in any sector, regardless of size.

B Corp certification is not available to ASBLs, NGOs, public bodies or any other entity that is majority state-owned.

What sets B Corp certification apart from others is its holistic nature. Unlike many evaluations that focus on specific aspects of sustainability, B Corp certification comprehensively assesses how every business decision impacts people, planet, and profit. It goes beyond mere reporting and adopts a comprehensive approach, building upon established standards like GRI (Global Reporting Initiative) and IRIS (Impact Reporting and Investment Standards), among others.

The B Corp certification serves as a reliable signal to stakeholders that a company has undergone a rigorous evaluation and met the stringent standards set forth by the B Corp movement. It offers a credible and internationally recognized framework for assessing a company's commitment to sustainability, installing trust and confidence among consumers, investors, employees, and the wider community.

In a landscape where sustainability certifications are proliferating, B Corp certification stands out as a comprehensive, multifaceted, and meaningful measure of a company's commitment to social and environmental responsibility. It represents a significant step towards aligning business practices with the principles of sustainable development and offers a pathway for companies to authentically contribute to a more equitable and sustainable future.

While it is possible for businesses to pursue B Corp certification and recertification without the assistance of a consultant, many clients find that engaging a consultant is immensely valuable. The B Impact Assessment, documentation requirements, and time commitment involved can be complex and challenging to navigate alone. Similar to tasks such as website updates or tax preparation, it is often more accurate and time-efficient when handled by an experienced professional.

It's important to note that less than 50% of companies who submit an assessment actually meet the certification requirements after completing the review process. Several factors contribute to this, including selecting the incorrect assessment track for their specific industry, making mistakes while filling out the B Impact Assessment (BIA), or lacking sufficient supporting documentation.

At ESGlogic, our team possesses expertise in completing the BIA (as certified B Leaders), navigating the certification process, and collaborating with B Lab's standards analysts during the final review. We are dedicated to helping companies progress swiftly and efficiently through the certification journey, ensuring they avoid common pitfalls and successfully achieve their goal of becoming certified or recertified as a B Corp.