Putting purpose at the hear of business
This growth in purpose-led startups is perhaps less surprising when you consider older Millennials are now in their late thirties and Generation Z are in their early twenties, and these cohorts are now yielding entrepreneurs and visionaries wanting their businesses to look and behave differently.
For example Leigh-Kathryn Bonner, a 26-year-old whose mission is to convince companies with massive headquarters to host beehives and, in the process, help rebuild the bee population. Her company Bee Downtown works with the likes of Burt’s Bees, Delta, Chick-fil-A, Intercontinental Exchange, and IBM to host hives
Another individual is Emellie O’Brien who founded Earth Angel to help film production crews become more sustainable by educating them about best practices, using eco-friendly products on set, minimising waste, and tracking carbon footprints. These start-ups have put societal good at their heart and, as a result, have got noticed.
However, for each purpose-led business that achieves recognition, I’m betting that there’s another hundred that are struggling for funding and attention in order to achieve their mission. That’s why we have a duty as a community of investors, suppliers, customers, academics, policymakers and industry partners to showcase Britain’s entrepreneurial talent that is emerging in the area of purpose-led business.
It’s a big opportunity for our economy while also addressing societal and environmental issues with innovative, refreshing approaches. When one of the greatest financiers of our time – Larry Fink, CEO of Black Rock – is telling us that purpose is a company’s fundamental reason for being, then we need to sit up and take notice.