Business Certifications for Mission-Driven Companies
As a mission-driven company, there are several certifications that may help distinguish you in the marketplace and reinforce your commitment to public benefit and social impact. Many of these require the company to be operational for several years before becoming eligible for certification. Nevertheless, being aware of these early on can help prepare for qualifications and documentation.
Small Business Administration Certified (SBA): The government sets aside contract opportunities for small businesses to support access to the federal marketplace. This includes participation in the 8(a) business development program which provides training and technical assistance designed to strengthen their ability to compete effectively in the American economy.
FairTrade Mark: This certification indicates a focus and priority on fair trade and holding suppliers to higher standards of ethical sourcing. It is largely considered the most globally recognizable ethical certification.
B Corp Certified: B Corp is the leading nonprofit group that offers a private certification (B-Corp certified) through rigorous reporting standards to ensure companies uphold mission-driven approach throughout their operations.
Minority-Owned Business Enterprise (MBE): This certification, offered by the National Minority Supplier Development Council (NMSDC), can help organizations unlock key sources of funding and other opportunities for their company in the non-federal marketplace. It is verifies that a business is at least 51% owned, managed, and controlled by a minority group such as Black, Indigenous, Latino, or Asian. The certification is intended to eliminate discrimination and ensure socially disadvantaged businesses have access to state contracts and opportunities.
Women’s Business Enterprise (WBE): Equally, the Women’s Business Enterprise National Council (WBENC) also offers a certification for women-owned businesses with similar benefits. It is also is an approved third-party certifier for the SBA’s Women-Owned Small Business (WOSB), exclusively for federal contracts.
Veteran-Owned Business (VBE): Separate from the SBA program for government contracts, the VBE certifies for corporate contracts in non-federal marketplace. In a society that is increasingly demanding DEI initiatives and priorities, this is a great way to distinguish your business from competitors and acknowledge the unique value of being veteran-owned.