Pricing Update FAQ (April 2023)
$5M to < $50M
$50M to < $100M
The submission fee was first introduced in March 2022, at a subsidised rate of USD350 for all companies in Asia. As of 1 April 2023, the submission fee was increased to be closer to the actual verification costs, and pricing tiers were introduced to reflect the complexity required for larger companies.
The following revenue bands are updated to better reflect the cost of the support provided to these sized-businesses through the certification process. For existing B Corps, these updates fees (in USD) only apply from 1 Jan 2024 onwards.
Company Annual Revenues
$1M < $3M
$15M to < $20M
$30M to < $50M
As a company applying for the B Corp certification for the first time, the submission fee is applicable upon submission of your B Impact Assessment for verification. This fee is non-refundable. If you are successful in meeting the performance requirements for the B Corp certification, the certification fee will apply in order to certify. The certification fee is determined by your company's annual revenues. This certification fee is charged annually, in the month that you initially certified.
For companies that drop below the 80 point threshold during verification, a short improvement period is offered. If a company is unable to reach 80 points in that time, the review is closed. Once the company is ready to submit again, a new submission fee will apply.
If it is determined that your organisation is not eligible for certification, please note that the submission fee is not refundable. If you would like to confirm your organisation’s eligibility before submitting, please get in touch with us.
We currently face growing global interest in the B Corp movement and record submissions for B Corp Certification. Many companies submit without fully appreciating the rigor of the B Impact Assessment, the commitment necessary for the Review Process and/or the basic certification requirements. This increased volume results in a significant backlog that companies have been experiencing for some time.
The Submission fee is applicable only for companies submitting their BIA for initial certification. It is designed to focus the review processes on companies that are committed to completing the B Corp Certification. To ensure B Lab has the capacity to provide a high standard of service whilst maintaining the integrity of the assessment, the Submission Fee is a contribution towards these verification costs and a commitment on behalf of the company to the full verification process. This fee is non-refundable and is charged at the point at which companies submit their BIA for verification.
We can’t wait for you to join the B Corp community when you’re ready – this journey takes effort and time and we truly believe it is well worth it!
The submission fee is applicable to companies submitting their BIA for initial certification. There are no submission fees for companies seeking re-certification. Since 2022, B Lab Singapore has absorbed and will continue to absorb the verification fees for current Singapore B Corps seeking re-certification.
Certification fees are calculated according to the revenue of your company and based on principles of inclusivity, transparency, and fairness. As a non-profit organization, your certification fees only cover a portion of B Lab’s operating expenses. Forty percent of B Lab’s expenses are covered via philanthropy with the remainder coming from earned revenue streams including B Corp Certification.
In general, B Lab costs associated with B Corp Certification are broken into four groups:
Verification and standards: Much of the annual fee you pay goes to cover costs associated with verification, including expenses related to staff time for the review process and developing the standards underpinning the certification.
Technology platforms: In addition to the certification we offer the B Impact Assessment as a free tool for companies to measure and improve their impact. These fees support the ongoing development and improvement of this tool alongside the B Hive, B Analytics, and our back-office administration platforms.
Licensing fees: This is what you pay us to license the growing ‘B’ brand on your products, services, and marketing platforms and to support efforts to grow brand awareness.
Local and global movement building: Depending on the size of your company, the surplus from your fee goes to cover costs associated with growth and engagement efforts both in market and in service to a growing global movement.
All existing B Corps need only pay certification fees based on the new fees after January 1st 2024. Any recertification fees due before January 1st 2024, will be charged at the previous rates.