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Buffalo Businesses Eat Your Veggies!December 03, 2010 Being an Indian and growing in a slowly developing economy meant being exposed to a massive deluge of western, especially American, media. “Eat Your Veggies!” is a term I grew accustomed to hearing on TV shows where concerned mothers stood hands on hip, towering over insolent children who refused to chomp down on something that was definitely healthy for them but which wasn’t really a flavorthey cared to experience. While the diet and nutrition of American children is a legitimate concern, I would rather associate my anecdote with the economy and the state of business in the country. America is fuelled by entrepreneurial spirit. The passion to make money has led to America donning the mantle as the world’s richest, most powerful country. BUT, somewhere down the line the entrepreneurial spirit for society has turned to personal greed and competition to monopoly; and in this period, the charming notion of a seemingly ever resourceful and forgiving environment has been disproved several times over. And now, the least expected thing has happened- The Great American Economy has collapsed, much like a pack of cards due to a mixture of social, political, and economic dilemmas. This leads me to the question of what our civil society should do. Well, “Eat your Veggies!” should be ideally replaced by “Become a B-Corps!” Before I delve into the subject matter of what a B-Corps is and how it will help strengthen this faltering economy, let me capture the essence of something The Buddha once said. “There are several means to attain salvation, mine is but one of them”. That is what B-Corps is- One of the means of economic salvation, a means of restoring trust in the corporate model that fuels this country. Simply put- B-Corps certification implies PROOF. No slick marketing, just good old fashioned proof that the common man yearns for, something that will end the “era of speculation”. Benefit Corporations or B-Corps are simple to understand. B-Corps is a certification (certified by a third party, a not for profit called B-Lab based in Philadelphia in this case) that symbolizes (proof of) a business that conducts itself in a manner that benefits the community and lends an active hand in preserving our precious environment, whilst still going about its ultimate aim of making healthy profits, keeping the all important owners happy. How does a B-Corps do that? Well, it submits itself to a careful evaluation that encompasses five aspects that comprise a business, which are, Governance; Employees; Environmental sustainability; Community Benefits and Consumers. Furthermore the assessment tool that measures this is available to ALL BUSINESSES FREE OF CHARGEon the internet (with privacy ensured). The only string attached presumably is the time it takes to complete the survey (about an hour), but users can save and quit their progress and return to it at a later time. Phew! Enough of the mundane details for now, which I will carefully explain in further articles related to B-Corps. America is built on the strength of the small independent enterprises owned and run by Average Joe/Jane who lives down the street from you and gives you a job. I can claim that a third (if not more) of the jobs in America are not created by the Fortune 500 but the other smaller businesses that are the backbone of this great country. Yes, Mr. Average Joe/ Ms. Average Jane who runs a Bakery or Gift shop, restaurant, bistro, florist, you name it. And before conclusions are jumped to, I emphasise that ALL BUSINESSES are encouraged to be B-Corp certified, Fortune 500 or local enterprise notwithstanding. I will leave you with simple facts about B-Corps for those who like numbers and only see sense in quantitative data rather than articles that make an effort to engage modern sensibilities.
- Official Legislature has been passed in the states of Vermont and Maryland, recognising Benefits Corporations. Five states to follow suit soon; New York included. So, the obvious question is what’s in this for Buffalo? In a word- EVERYTHING! Everything including the pride of calling Buffalo a visionary city that foresaw this new era- the ERA of the Social Entrepreneur! Stay tuned for a series of articles, which will select and explain all the aspects of a B-Corps, with my assured promise to keep them short and succinct. In the meantime, perhaps all of us can look our business owners straight in the eye, do the best Marge Simpson impression and say, “Sir, Eat Your Veggies”.
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