Why Become a Benefit Corporation Now
Hope for the environment.
Hope for social justice.
Hope for business.
And hope for the world.
You see, we believe we are at that proverbial crossroads where there is no more time. Either we stay on the road we’ve been on or we choose to travel the path less followed.
We’ve seen the writing on the wall. Global warming. Hate crimes accelerating. Corporate greed spiraling upward.
The good news is that a new generation of enlightened humans are saying 'enough is enough.' And they are making their beliefs and opinions about the environment and social justice known to businesses with the most potent tool of capitalism: their pocketbooks.
Here's what we write in the introduction of Putting Soul Into Business: How the Benefit Corporation is Transforming American Business for Good...
A 2015 research study by Nielsen reports nearly 66 percent of global online consumers across 60 countries said they are willing to pay more for products and services by companies that are committed to positive social and environmental impact. These are convincing numbers all by themselves. But when you consider that the report also stated that the willingness to pay more is consistent across all income brackets, you have data that simply can't be ignored.
In another 2015 report, this one conducted by Cone Communications which focused on Millennials in the U.S., research found that 70% are willing to pay more for products and services of companies with corporate social responsibility programs (CSR). 70%! The study also suggests that female Millennials appear to be the most loyal supporters of those companies with a willingness to:
Buy a product with a social and/or environmental benefit, given the opportunity (90% versus 83% adult average)
Tell their friends and family about a company's CSR efforts (86% versus the 72% adult average); and,
Be more loyal to a company that supports a social or environmental issue (91% versus 87% adult average)
All of which brings us back to hope and why we believe there is plenty of room for it in today's world.
It should do the same for you if you see the revelation in such data. Because we believe the Benefit Corporation is going to be a strong catalyst for growth by the companies who adopt and practice such contemporary thinking today and in the months and years ahead.
It's been said that "hope shines brightest in the darkest moments." Care to join us in leaving the darkness behind?
If you'd like to see if your business is ready to become a benefit corporation, just take our free 12-question "sniff" test and find out right now.