BWB is pleased to have played a key role in supporting the Cabinet Office’s Mission Led Business Review. The aim of the review is to understand what is happening in the sector and to make recommendations to industry and government to help grow the emerging mission led business market. The review does not look at asset-locked bodies such as charities or CICs, but instead it is focused on for-profit businesses that intend to have a social impact and lock in that social impact or commit to it in some shape or form.
BWB has been closely involved with the review and Louise Harman, Senior Associate, was seconded to the Cabinet Office earlier this year to lead on the legal and governance aspects of the review. This is an exciting emerging market in business and there is growing appetite to work for, consume in and invest in values driven businesses.
BWB is also engaged closely with the mission led business movement. Luke Fletcher is a founding board member of B Lab (UK), a registered charity which exists to support a community of UK-based B Corporations or B Corps, and Luke has also been deeply involved in helping to shape the legal requirements. Luke and Louise have supported B Lab (UK)’s proposal to explore the potential of creating a benefit company status in the UK, and have, along with B Lab, prepared draft legislation to support the proposal. The draft legislation seeks to lock in the mission to the broader stakeholders’ interests and would not change the adopting company’s corporate form as a company limited by shares.
Bates Wells Braithwaite is proud to be the first UK law firm to achieve B Corporation certification, click here to read more.
For more information about our work and presence in this area, please contact Luke Fletcher.
Louise Harman (née Saunderson)
- +44(0)20 7551 7679
Posted on 21/11/2016 in BWB NewsBack to Knowledge