Seetec’s Chief Executive Officer, John Baumback, and the company’s Executive Director of Growth, Penny Levack, took a trip to the House of Commons this week.
They joined a host of other responsible business leaders to show their support for the Better Business Act.
Seetec was one of the early backers of this bill, but what does it mean and how will it affect the way we work?
At its heart, the Better Business Act is about making business better – for everyone.
Right now, the law says the main job of any business is to make money for its shareholders (the people who own it).
But the world has changed and so have people’s expectations.
Most of us want businesses to do well AND do good; to think about their workers, their communities, and the planet, not just their profits.
The Better Business Act is a campaign to change the law so that every company in the UK must put people, the planet and profit on equal footing.
In other words, it’s about making sure that businesses aren’t just good at what they do, but good for the world around them, too.
So, what does this actually mean?
If the Better Business Act becomes law, every business would be legally required to think about the impact of its decisions on:
- Employees: not just how much they’re paid, but how they’re treated and supported.
- Customers: offering fair prices, honest service and products that are safe and sustainable.
- Communities and the environment: thinking long-term and acting responsibly.
How did we get involved?
Seetec was one of the first UK businesses to become a certified member of B Corps, the organisation which has been instrumental in championing the campaign. (Scroll down for more about B Corps)
Led by B Lab UK, which certifies B Corporations, the Better Business Act campaign brings together a broad coalition of businesses (including many Certified B Corps) that believe the law should ensure companies benefit all stakeholders, not just shareholders.
The central proposal is to amend Section 172 of the UK Companies Act to make it mandatory, not just optional, for directors to consider the impact of their decisions on employees, communities, the environment, and future generations.
B Corps already voluntarily meet this higher standard of governance, so their support for the Better Business Act is both philosophical and practical: they want to see this stakeholder approach become the norm for all UK businesses, not just those who choose to certify.
Why should we care?
🌟 For employees:
As an employee-owned company, our colleagues deserve to be part of a company that values more than just the bottom line. A company that supports wellbeing, listens to their voice, and puts purpose alongside profit.
🌟 For employers:
This isn’t about being perfect; it’s about being accountable. By showing you care about people and planet, you’ll attract better talent, build stronger trust with customers, and future-proof your business.
🌟 For our customers:
People have the power to choose where they spend their money. The Better Business Act would make it easier to trust that the companies they support are working in the public interest, not just padding their profits.
It was great to meet the people behind the campaign and to see so many responsible businesses, of so many different sizes, from such a variety of sectors, there to support the bill.
Penny Levack, Seetec’s Executive Director of Growth
Seetec prides itself on being accountable for its social responsibilities, so it was only natural for us to get behind this act.
A business-friendly future
We believe that business can be a force for good. That success doesn’t have to come at the expense of people or the planet. That’s why we support the Better Business Act.
It’s time for business to reflect the values of the people it serves. Because better business means a better world for all of us.
If you’d like to find out more, or join us in supporting the campaign, visit betterbusinessact.org.
About B Corps
B Corps (short for Benefit Corporations) are businesses that meet high standards of social and environmental performance, transparency, and accountability.
To become a Certified B Corp, a company must complete the B Impact Assessment, which measures performance across five key areas: governance, workers, community, environment, and customers.
Businesses need to score a minimum of 80 out of 200 points and update their assessment every three years.
Certification also requires amending the company’s articles of association to legally commit to considering the impact of decisions on all stakeholders.
