15 May 2023

All about...the Better Business Act


5 things to know

Unless you’ve been living under a rather large rock, you may have seen some posts about the Better Business Act lately. But what is it, and why do we support it? And, more importantly, why should you?

Since we love simplicity, we’re going to break it down in just five steps. See you at the end for a jaunty sign-off.

1 – It’s a proposed UK law

So, first things first. The Better Business Act is some legislation which – if passed – could make sure that corporations take better care of society and the environment. If you like a bit of legal geekery, you may be interested to know that it would be an amendment to Section 172 of the Companies Act. And if you don’t, then ignore that bit.

2 – It’s designed to help people, planet AND profit

Sounds like the dream, right?? But believe it or not, it is possible to have all three. Purpose-driven companies are often the most successful and long-lasting, not least because consumers are increasingly motivated by ethicsespecially younger audiences. Also, nobody’s going to make much money on a dead planet. So it makes business sense.🙃

3 – The baddies hate it

Of course, a lot of people get rich by deciding not to care about creating waste, using resources or spewing out pollution. Business owners like this don’t like the Better Business Act much, because it would force them to consider the wellbeing of anyone affected by their business, not just the shareholders who stand to make £££. There’ll be more transparency too, as businesses will have to include sustainability in their reports.

4 – There’s a coalition of supporters – including us!

If you haven’t already guessed, we’re pretty big fans of the Better Business Act ourselves. Lawbox Design has been buddies with the Better Business Network (which supports the acts and other good stuff) for yonks and now we’ve started to officially celebrate our partnership. In fact, depending on when you read this, you might find we’re running a special offer for members (subject to terms and details, time and availability limited, other legalese goes here… hoho). For those who’d like to sign up, here’s where you can apply.

5 – You can get involved too

The Better Business Network is always pushing for the act to be passed, with campaigns such as #wakeuptobetterbusiness causing a recent stir. Centred on positive actions like asking your MP for support, it also gives us a chance to shout about why we got involved. To learn more about becoming a sustainable, accountable business, you can check out the Better Business Act and B Lab UK, which offers lots of resources as well as certifications for companies who meet their ethical and environmental standards.

So, there you have it: by using the law to create change, we can build a better world for everyone. Does that make you feel excited? If it does, drop us a line on onwards@lawboxlegal.com and let’s brainstorm some ways that a little legal know-how could help you too.