Better Business Act
We believe that the businesses should operate with a focus on serving all stakeholders, not just raking in profits. This could soon be a reality with the introduction of the Better Business Act (BBA), which has the potential to revolutionise the way we do business in the UK.
We believe that all socially and environmentally responsible purpose-driven businesses should get involved and sign up to enact the BBA into UK Law.
When a new business joins the BBN – we actively signpost towards the BBA as an action that they should support and get involved with.
WHAT IS THE BETTER BUSINESS ACT?
The Better Business Act is a piece of legislation that would revolutionise the landscape of UK business and pave the way for a sustainable future by changing section 172 of the Companies Act.
Changing section 172 of the Companies Act would allow us to move away from the shareholder primacy, profit-seeking model, and instead ensure businesses are legally responsible for benefiting all stakeholders – workers, customers, communities and the environment.
The Better Business Network are proud to be alongside 2,500 other businesses who back the act, and want to wake up to a world where profit doesn’t come at the cost of our planet.
Better Business Act Action Day!
We partnered with Brabners law firm in Manchester to host a Better Business Act Action Day which saw a range of business leaders, both from within the Better Business Network and the wider North West Business Community, come together to discuss how we can enact the proposed Better Business Act.
The day consisted of talks from business leaders from a range of sectors, giving listeners a greater understanding of the challenges and opportunities we face.
We made sure that everyone had the chance to engage with peer-led “catalyst” conversations which were designed to enable participants to exchange ideas on the challenges posed by the BBA. What’s more, these conversations provided attendees with peer learning opportunities, so they can identify actionable steps to take and drive meaningful change.
Creating a space were like-minded, purpose driven business could discuss the BBA, allowed for cross-sector collaboration, stimulating new ways that every business can do their part in promoting the BBA.
Through the collective action of bringing businesses together, we aimed to lobby the government to enact the Better Business Act into UK Law.
Lobbying for the Better Business Act
In April, our team at the Better Business Network and our partner organisation, betternotstop, made our way down to Westminster to call on policy makers and MPs alike to support the Better Business Act.
We spoke to countless people on our trip including all with the same goal of making the world a better place. It is only through collective action and political lobbying that we will make the government change the legislation so that business must work in the interest of everyone.
Read more about why we support the Better Business Act here!
How can you get Involved?
We strongly encourage all supporters of our business and beyond to take the first step and engage with your MP to enact change Section 172 and be a part of shaping a brighter tomorrow. At the Better Business Network, we believe that change is not just possible, but achievable by taking action today.
Join the coalition here: https://betterbusinessact.org/act-now/
Invite your MP to vist: https://betterbusinessact.org/wp-content/uploads/2023/04/2023-MP-Hosting-Toolkit.pdf