Better Business Act 101

Posted on 25 April 2023

There is a long, wordy but important legal document called the Companies Act, which sets the rules for all British businesses. Within it, there’s a troublesome section – 172 – that basically requires directors to prioritise profit over everything else, including people and planet. As we see it, this effectively puts future generations at risk. The Better Business Act wants to change this one section so that it’s no longer an option for business to pursue profit at the expense of workers, communities and the environment. In theory it’s quite a small change in company law, but it’s one that could make a big difference in the world.

Why are we supporting the BBA?

It could transform business. Every single company in the UK, however big or small, would have to take ownership of its social and environmental impact. An important and essential move.

How are COOK supporting the BBA?

Well, we’re part of the BBA coalition – ambassadors trying to inspire and convince the rest of industry to join us. We’re heading up to Westminster on Friday 26th April to the house of Commons to talk to MPs and encourage them to get behind the change.

How are COOK bringing to life the principles of better business?

We’ve been banging this drum for a long time now. COOK was a founding member of the UK B Corp movement in 2013 and we’ve always believed in our bones that business should be finding profitable solutions to the world’s problems, rather than causing problems in order to make a profit. While our B Corp community is growing fast, the climate crisis and other serious issues facing our society can only be tackled by a broad collaborative effort. Changing this outdated and irresponsible element to company law is a good step in the right direction.

Is there anything that COOK customers can do to help?

Have a look at the to find out more about the campaign and how they can support it.

Thank you.

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