Can startups afford to be socially responsible?
Originally posted on Gigaom:
Startups can often barely afford proper office space, marketing budgets or, according to Mark Zuckerberg, even the time to write a business plan. In an always-be-shipping environment, it’s challenging enough to manage the traditional bottom line of profits, let alone the “triple bottom line” of social and environmental impacts.
But increasingly, tech startups and investors are supporting business models that make companies accountable to not just their shareholders, but also their customers, workforce, environment and greater community.
Last week, Etsy announced that it had joined the ranks of more than 500 companies nationwide as a Certified B Corporation. Like a LEED certification for buildings or a FairTrade certification for coffee, the designation is conferred by a third-party for meeting a minimum standard of social and environmental performance.