B Local Meeting - November 2018
Impact 6 Pack - Impact Planning for the B Corp-ish
“To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.” Larry Fink, CEO of BlackRock
The tide is changing and the world has never been so attuned to social entrepreneurs. With multinationals such as Danone becoming B Certified, this movement is truly gaining momentum. In fact, so much traction has already been gained that global investment managers have begun admitting that companies with long-term impact strategies are the safer investment (see: Larry Fink’s Open Letter to CEOs)
Now, anyone who’s become B Certified knows that it isn’t an easy feat. The process is often difficult to navigate through, not to mention time-consuming. It requires in-depth analysis, creative thinking, and - most importantly - a plan. These actions are all at the core of the Impact 6 Pack (I6P) program.
I6P’s curriculum is based on the principles behind the globally recognized B Impact Assessment (BIA). Over the course of two months, a small cohort of entrepreneurs develop their own unique impact strategy under the guidance of Kristy O’Leary (Director of Impact, Cove Continuity Advisors) and Meg O’Shea (Program Manager, Thriving Vancouver, VEC). The program is divided into 6 full-day workshops that cover the following modules: Mission Lock & Governance, Workers, Community Impact, Environment, Supply Chain & Traceability, and Communicating Impact.
Having had overwhelming success with its inaugural cohort (they scored an average of 87.6 on the BIA), I6P is currently wrapping up its second run-through. Many of the members of the cohort are in the process of becoming B Certified.
Meg and Kristy have specified that it’s the small-cohort format of the program that promotes such success. In addition to providing critical feedback, having diverse perspectives and experiences from a variety of industries greatly reduces the chance of oversights occurring during the development of the impact strategies. In the end, the cohort walks away with a long-term plan for success, strong B2B connections, and an understanding that being an impact entrepreneur isn’t about perfection, but about continual improvement.
BC Buy Local Week - LOCO BC
LOCO BC has been doing the research, and they now have the data to back it up: a 1% shift in BC consumerism to local businesses creates 3,100 jobs and $94 M in wages for BC workers. In addition to job creation, local businesses recirculate 2.6x more revenue into the local economy in comparison to multi-national chains
These are just two figures amongst many that reveal how much impact buying local has on our Canadian economy. According to LOCO BC:
1. Local Owned businesses are private companies, headquartered in BC, and have > 50% of owners residing in BC
2. Local Grown products are agricultural products grown in BC and manufactured products with >50% materials grown in B.C.
3. Local Made products are wholly or largely (>50%) manufactured or processed in B.C.
BC Buy Local Week: December 3 - 9
A big thank you to Amy Robinson, Founder of LOCO BC, for sharing with us all the ways we can get involved in this year’s campaign. Not only is this a great opportunity to highlight local business during the holiday season, but it’s also an opportunity to showcase our Canadian B Corps! Take the time to show how you support local businesses by:
1. Filling out the “How Are We Local” poster, showcasing your local supply chain
2. Sticking the BC Buy Local Week stickers all over your business & local products
3. Using the #BCbuylocal on your social media platforms
4. Celebrating the intersection of Vancouver brands and B Corps at the BC Buy Local Week Holiday Party - a collaboration between B Local Vancouver, LOCO BC, and Lunapads. B Corps get a 40% discount