Portfolio company – Bower Collective becomes a certified B Corporation

bower collective

Bower Collective becomes a certified B Corporation

Bower Collective, the leading sustainable consumer goods business, has announced today its certification as a B Corporation (or B Corp), joining a growing group of companies reinventing business by pursuing purpose as well as profit. Bower has been certified by B Lab as having met rigorous social and environmental standards which represent its commitment to people and planet.

Bower Collective’s mission is to build the world’s leading digital-first sustainable consumer goods company. The team is building a successful business that delivers real change in the world. Becoming a B Corp is a critical step on that journey that provides a robust framework for them to maintain the highest ethical standards as they grow.

Bower’s primary focus is on the elimination of plastic waste through their reuse and refill closed loop packaging system; to date they have saved over 10,000kg of disposable plastic waste from ending up in landfill and the natural environment. They are also on track to becoming a carbon positive business and for every purchase made they protect endangered seagrass through their partnership with the Marine Conservation Society.

The B Corp certification addresses the entirety of a business’ operations and covers five key impact areas of Governance, Workers, Community, Environment and Customers. The certification process is rigorous, requiring detailed evidence of socially and environmentally responsible practices.

Bower Collective is now part of a community of 4,000 businesses globally who have certified as B Corps. The B Corp community in the UK, representing a broad cross section of industries and sizes, comprises over 400 companies and include well-known brands such as The Guardian, innocent, Patagonia and The Body Shop.

Chris Turner, Executive Director of B Lab UK, says “We are delighted to welcome Bower Collective to the B Corp community. Their commitment to doing business differently will be an inspiration to others and really help spread the idea that we can redefine success in business to be as much about people and planet as it is about profit”.

Nick Torday, co-founder and CEO of Bower Collective, says “Gaining  B Corp certification is a significant moment for us in the Bower journey. We founded this business to be a force for good, to eliminate waste and to leave a better world behind us. B Corp provides a rigorous framework to help us set and maintain the very highest standards in social and environmental responsibility, now and in the future.”

About Bower Collective:

Launched in January 2020, Bower Collective is building the world’s leading, digital first, sustainable consumer goods company. Bower is a rapidly growing online subscription platform selling Earth’s best home and personal care products in reusable packaging, with a community of over 100,000 customers. Winner of major sustainability awards and a certified B Corp, the Evening Standard recently said of Bower that “This gorgeous brand is number one for cleaning with a conscience!”.

https://bowercollective.com/

About B Lab UK:

B Lab UK is transforming the economy to benefit all people, communities, and the planet. A leader in economic systems change, our global network creates standards, policies, and tools for business, and we certify companies—known as B Corps—who are leading the way. To date, our global community includes 4,000 B Corps in 77 countries and 153 industries, and over 100,000 companies manage their impact with the B Impact Assessment and the SDG Action Manager.

http://bcorporation.uk/

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Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.

What are the key risks?

  1. You could lose all the money you invest
    1. If the business you invest in fails, you are likely to lose 100% of the money you invested. Most start-up businesses fail.
  2. You are unlikely to be protected if something goes wrong
    1. Protection from the Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover poor investment performance. Try the FSCS investment protection checker here.
    2. Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
  3. You won’t get your money back quickly
    1. Even if the business you invest in is successful, it may take several years to get your money back. You are unlikely to be able to sell your investment early.
    2. The most likely way to get your money back is if the business is bought by another business or lists its shares on an exchange such as the London Stock Exchange. These events are not common.
    3. If you are investing in a start-up business, you should not expect to get your money back through dividends. Start-up businesses rarely pay these.
  4. Don’t put all your eggs in one basket
    1. Putting all your money into a single business or type of investment for example, is risky. Spreading your money across different investments makes you less dependent on any one to do well.
    2. A good rule of thumb is not to invest more than 10% of your money in high-risk investments. https://www.fca.org.uk/investsmart/5-questions-ask-you-invest
  5. The value of your investment can be reduced
    1. The percentage of the business that you own will decrease if the business issues more shares. This could mean that the value of your investment reduces, depending on how much the business grows. Most start-up businesses issue multiple rounds of shares.
    2. These new shares could have additional rights that your shares don’t have, such as the right to receive a fixed dividend, which could further reduce your chances of getting a return on your investment.

 

If you are interested in learning more about how to protect yourself, visit the FCA’s website here.