WPMarket is excited to announce that we are now officially registered as a benefit corporation in the State of Colorado!
What is a public benefit corporation (other names: B Corp, PBC)? Generally, corporations are beholden to their shareholders to maximize profits. Recognizing that there is an evolving definition of “success” in business that goes beyond strict economic gains, Colorado legislature passed a bill allowing for B Corps. This new legal status allows for companies to have an express purpose that goes beyond the bottom line to incorporate social and environmental responsibility into our business goals.
What does this mean for WPMarket? Actually, we are already set up with support to our artisans and our partners as our primary goals- so nothing really! The new promise that we will make to our customers, however, is that we will publish an annual report stating the ways in which we have helped to support the environment and communities that we work with.
What we hope this means for us moving forward. The legal change to B Corp status allows for us to reaffirm that supporting the women that we work with is of utmost priority to us. We want to make sure that the products that we bring to our customers are of high quality, the artisans are being provided a fair wage, and that they are made with environmental sustainability in mind. This new standing just holds us to higher accountability for those standards!
We are excited to make this move and join the growing number of business that work to support positive social and environmental changes through our practices.
All the best from the WPMarket team!
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