The Better Business Act (BBA) was launched in April 2021 with the aim of transforming the way we do business; to try and ensure that every single company in the UK, big or small, takes ownership of its social and environmental impact.
Specifically, the BBA’s goal is to to amend Section 172 of the Companies Act 2006 (also known as the S172 Companies Act) so that companies are legally obligated to operate in a manner that benefits their stakeholders, including workers, customers, communities and the environment, while seeking to deliver profits for shareholders - creating a sustainable business model.
In just six months, this goal is closer to becoming a reality.
Sustainable Companies
There are now over 750 businesses in the coalition of BBA supporters across the UK and alongside these sustainable companies, MPs have begun to show their support; with these five writing essays on the BBA for the Conservative Party Conference 2021.
Alongside this, the Better Business Act was featured as a solution in the Policy & Practice For Purposeful Business: The Final Report Of The Future Of The Corporation Programme by The British Academy.
All of this is pointing us towards a future where the BBA’s goal of more sustainable companies in the UK is achieved and we couldn’t be happier to have been a part of it.
What Next?
Continuing to push for change is key. Spreading the word about the Better Business Act to your friends, colleagues, business acquaintances and more is certainly the first step, but speaking to your MP and campaigning directly will be of the greatest benefit.
The BBA recommends hosting your MP for a visit, and has put together a useful MP Hosting Toolkit to help you with this. Their Communications Toolkit is also free to view and is full of useful advice for businesses on how to help spread the word about the BBA.
The world needs every business at its best - creating good jobs, helping to fix pressing problems and adding value to society. For the past half-century, business has become separated from the communities it needs to serve. The relentless pursuit of profit at all costs has contributed to a set of enormous challenges that threaten peoples’ health, wealth and the natural world.
We’re proud to be a part of the Better Business Act’s mission and we’re always looking for more examples of sustainability in business and sustainable companies so if you are able to share any with us, please get in touch!
Useful Links
- The Better Business Act
- MP Hosting Toolkit
- Communications Toolkit
- Better Business: How Labour Can Encourage Companies To Do More For People And The Planet
- Reimagining Corporate Purpose: How Business Can Help Restore Faith In Markets
- Policy & Practice For Purposeful Business: The Final Report Of The Future Of The Corporation Programme
- Business At Its Best | BBA
For more information on sustainable companies and The Better Business Act, please read some of our previous blogs:
- What Is The Better Business Act?
- Could This Law In The UK Change How We Live And Work? The Better Business Act
- How & Why Are Businesses Becoming Sustainable?
- Why We Started The Better Business Network
