The difference between B corporations and Social Enterprises – Indosole Singapore

The difference between B corporations and Social Enterprises

B corporations in Singapore - Indosole

In all frankness, we at Indosole are extremely proud to be a B corporation. Our B corp certification is a true testament to the values we have and will forevermore uphold. It is a deep honour to be a part of such a prestigious group who are collectively trailblazing a pathway in our economy, inducing a transformation on the notion of a business in this day and age.

Social enterprises is an equivalent group of businesses we have grown to adore.

Social enterprises are cause-driven entities which exist to achieve a social mission. Just like how B Lab is the non-profit which certifies B corporations, The Singapore Centre for Social Enterprise, better known as raiSE, is the ecosystem of social enterprises in Singapore.

There is no denying that businesses buttress our entire economy and have ushered in a prosperous era for humanity. However, many social and environmental problems have cropped up in the meantime, both directly caused by or completely unrelated to businesses.

In the past, businesses often separated themselves from these issues, sidestepping responsibility. In turn, people were none the wiser about these issues.

Running a business in today’s circumstances is a whole new ballgame. Awareness amongst the masses with respect to these issues is ever-growing, and they are becoming more vocal about questioning the role of business in such a world.

This very crowd is what B corporations and Social Enterprises are peopled with. They recognised how businesses are one of the keystone stakeholders in the dynamics of the globe. This makes them the perfect vehicle to tackling these increasingly prevalent issues, which they then capitalise on.

B corporations focus on attaining social and environmental conduct of the highest degree while maintaining transparency and accountability. Social enterprises tackle unmet societal needs. Being embodiments of using a profit-forward framework to create a positive impact,we are both akin in that regard.

‘Profit’ tends to be an unpleasant word in such conversation, but they actually not only allow us businesses to tide the boom-bust cycles of the economy, it also allows us to appeal to top-tier talent and fund ourselves to achieve our ‘greater good’ missions.

We at Indosole are huge admirers of social enterprises and have been blessed with the opportunity to connect with a fair handful. For instance, our friends at Zerrin have previously featured us in an article - namely Your Go To Guide to Sustainable Fashion in Singapore.

Two of our stockists - The Social Space and the Green Collective SG - also happen to be Social enterprises.

The Social Space is a lovely multi-concept social enterprise comprising a cafe, retail and even a nail salon section. What we love about them is that they promote a socially conscious, low waste lifestyle in their community.

From selling an array of eco and socially-conscious products to providing inclusive employment, they truly epitomize the motto of B corps; They use business as a force for good. We take pride in being part of their lifestyle collection.

Sustainable Flip Flops near me Singapore Marina One - Indosole at the Social Space

The Green Collective is a ‘Green Kampong’ of small sustainable brand owners, conscious consumers and businesses. Albeit having become an official member of raiSE only recently, have been supporting sustainable entrepreneurs in Singapore since its inception.

Sustainable slippers near me Singapore City Hall - Indosole at the Green Collective SG

They built this ecosystem to facilitate collaboration, in order to overcome common hurdles faced by small sustainable business owners and achieve their collective mission - simplifying the adoption of a sustainable lifestyle. They are the first retail store to be curated based on the UN Sustainable development goals, where Indosole comes under Responsible Consumption and Production.

All in all, Social enterprises and B corporations are not all that different. Good businesses have many names, but we reckon we all are revolutionizing the market all the same.