The Purpose Dividend report launch

The launch of a new report from Demos and B Lab UK, called The Purpose Dividend, saw industry-leaders from Tony's Chocolonely, Olio and Danone, alongside the report's author, Andrew O'Brien, host a discussion on the Better Business Act.

The report makes the economic argument for purpose-led business, as it seeks to address the UK's economic decline as well as some of the most pressing issues from combatting climate change to creating a more equitable society. The solution? Expanding purpose-led businesses from a minority to the new standard business model through legislative change, also known as the Better Business Act.

The report is founded on research indicating that the shift to a purpose-led model would produce a positive ripple-effect on the economy, boosting GDP, wages, and innovation across sectors. The headline figure is that if all businesses became purpose-led, we would see a staggering £149bn boost to UK GDP per year - a 7% increase.

Against this backdrop, we heard from the panellists on how being bold about a company’s mission gives leaders confidence and clarity on how to run a business, but also why social pressure and legislative change will be key to giving big business the freedom to change. Tessa Clarke, co-founder of Olio, also raised the idea of ‘people and planet’ KPIs being embedded in the business to give incentives for doing better.

The panellists all optimistically upheld that businesses are up to the challenge of balancing people, planet, and profit – for the benefit of everyone. They have the backing of the UK public too, with 78% of the population also wanting to see businesses being responsible. Hopefully highlighting this economic argument will also stimulate cross-party political support.

We’re eager to see the coverage that this report receives and will be keeping our eyes peeled for the Better Business Act on the political agenda in the months to come!