A roundup of our top 4 successful purpose led businesses
A purpose-led business focuses on their reason for being, beyond purely the financial. They can push the community forwards, and offer something more than just a product. Read on to find out more about some inspiring companies we look up to that are putting people first, and learn about how this affects what a successful purpose-led business can do.
Timpsons
Timpson's is a community-focused company with a strong beliefs in the "Upside-Down Management" strategy which follows two very simple rules. As long as employees look the part and put the money in the till they can lead themselves. This has led to a system that can evolve quickly, with changes that benefit the customer by not needing to go through layers of managerialism before they can have a positive impact. A company can become much more agile when its success is put in the hands of colleagues, and in turn empowering colleagues increases their levels of job satisfaction and decreases their levels of stress, promoting wellbeing and staff engagement.
Riverford Organics
Riverford Organics have a B Corp certification, which means that they balance purpose with profit. The company has been built from the ground up to put people and the planet at the heart of what it does. During the certification process, Riverford did well in the "Community" section thanks to its use of UK farms wherever possible, as assisting your local community is viewed very positively in terms of B Corp certification. This was supported by the Environmental score, which did especially well thanks to the focus on organic farming and the strive to avoid airfreight wherever possible. B Corp status can be difficult to achieve, so Riverford Organics excelling in this area demonstrates their passion for helping people and the planet alike.
Fairfax & Favour
Where many companies will concentrate as much money as possible into their own bottom line, there is a lot to be said for those that instead focus on charitable causes. Fairfax & Favour has a wealth of charitable causes that they support, including raising money to help in the fight against breast cancer, offering support to Help For Heroes, and joining in with innovative solutions designed to prevent food poverty. This push to put charity first is commendable and is already having significant positive impacts.
Thought Clothing
Thought Clothing is a brand that focuses on protecting the planet. By using natural and sustainable fabrics, Thought Clothing strives to ensure that their impact on the environment is positive and use the limitations of natural fabrics as an opportunity to innovate. Creating timeless and wearable pieces, the brand is committed to following this sustainable philosophy for the long term, helping the environment to thrive whilst offering a range of stunning fashion options. If you're looking for an exemplary brand in an otherwise ethically murky fashion industry, Thought Clothing may be perfect.
If you're interested in working with Nurture Company Health to support your purpose-led business aspirations, you can book a discovery call with Michelle today. In that 60 minute meeting, you’ll discover how we can use accountancy to help you create the sustainable purpose-led business that you’ve been striving for.