Bidfood became a coalition member of the Better Business Act in 2021, as it seemed a no-brainer even then; why wouldn’t any company sign up to promote a better way of doing business? But what does ‘better business’ mean, why do we need an act of parliament to make it happen, and why did it (and still does) feel like the right thing to do for Bidfood?
What is the Better Business Act coalition?
More than 3,200 UK businesses have now come together because we believe that the law is out of step with society, and that every company in the UK, large or small, aligns the interests of their shareholders with those of wider society and the environment. Easy to say, but how do we make that happen in practice?
The coalition has a clear objective in mind, we are pressing government to amend Section 172 of the Companies Act to build in four principles that align the long-term interests of people, planet and profit. These principles would require all UK businesses to advance the interests of stakeholders as well as shareholders. This would empower directors to weigh up their interests, with a legal duty to do so and to report on how they are balancing those interests. Businesses from the UK have signed up to push for a cleaner, greener, fairer future for all. Read more about the coalition and its objectives here.
Why we joined the movement for change
Aligns with our values
It’s perfectly in tune with our own strategy which is based on the principle of ‘Triple Bottom Line’, not my own idea (wish it was!), the concept has been around since it was coined 30 years ago by author and entrepreneur John Elkington. It means that as a business, we focus not just on the economic value we add, but also on the environmental and social value. I’m a firm believer that businesses don’t have to choose between doing well and doing good. Profit and corporate responsibility can and should go hand in hand, creating value that is based on fairness, equality and sustainability.
Andrew SelleyChief Executive Officer at Bidcorp UK
Our stakeholders
To follow the Triple Bottom Line approach, we have to consider and engage all our stakeholders. That’s not just customers, employees and suppliers, but the local communities we operate in, organisations like WRAP, the FPA, UKHospitality, Springboard, Hospitality Action, and government too. What’s clear to us, is that many of them also want a cleaner, greener and fairer future, and an increasing number are, of course, millennials who care passionately about sustainability. We owe it to all of them to strive for responsibility, progress and change.
“Dream Big, Act Big, Achieve Big”
We’ve built a business based on our own, authentic, shared values. Our teams understand and inspire each other to ‘care, share and dare’. Only when everyone pulls together in the same direction, can you bring your A-game, and we will certainly need that to make headway on some of the massive challenges we face such as climate change.
Why other businesses should join us
Ultimately, sustainability makes good business sense, and every single company in the UK, has to take ownership of its social and environmental impact now, or nothing will change and we will be faced with even greater, perhaps insurmountable challenges in the years ahead.
The law has fallen behind business and public desire for change, but if we come together and work together, we can convince government to put that right. It will take real collaboration and commitment to address the issues that face us all, but with enough momentum and that crucial evolution in the law, we can move those mountains and everyone will benefit from a securer and fairer future.
We invite both customers and suppliers to consider joining the coalition, find out more at https://betterbusinessact.org/act-now/ – or listen to our new podcast, where we interview a customer of ours, to find out why they signed up, and also the Campaign manager for the Better Business Act campaign. It’s a great discussion!
