Better Business Day 2026

When you sign the petition this message will be sent to Your MP.

Subject: 20 years of change. One system left behind.

I am writing to you as a constituent and as a member of the UK business community. I am supporting the Better Business Act campaign, a coalition of over 3,000 companies calling for an urgent upgrade to our outdated company law. We are asking the Government to amend Section 172 of the Companies Act to legally empower UK businesses to balance the long-term interests of people, planet, and profit.

In 2006, the world looked very different. We were still using flip phones and watching DVDs, the landmark Climate Change Act and Modern Slavery Act didn't exist, and "remote work" was a rarity.

Today, expectations of business have fundamentally shifted. Companies are now expected to consider their environmental impact, their workers’ wellbeing, and their long-term resilience in relation to society’s biggest challenges, not just how to generate shareholder returns. Despite this, too many businesses still fall short because the law has not kept pace and does too little to recognise or empower this approach.

20 years of change. One system left behind.

Section 172 of the Companies Act 2006 was written for a different era. Today, our economy faces unprecedented global challenges and shifting public expectations. We can no longer afford a system that encourages a narrow focus on short-term financial returns at the expense of long-term stability, workers and the environment.

Why do we need an upgrade now?

• Today’s expectations:
  • 77% of the UK public believe businesses should have a legal responsibility to people and planet alongside profit (source).
  • 62% of company directors say businesses should not exist solely to make money (source).
  • Over 3,000 businesses and counting support the Better Business Act campaign.
• Economic performance: data from B Lab UK shows that stakeholder governed businesses are outperforming their peers, providing the blueprint for a more resilient and internationally competitive economy (source).
  • Growth: B Corps’ turnover growth is almost seven times higher than all UK SMEs, proving that purpose-driven businesses are scaling faster than the market.
  • Jobs: While overall UK SMEs grew headcount by only 2%, UK SME B Corps achieved 11% employee growth, highlighting their contribution to local jobs and economic resilience.
  • Investment: Over the past decade, UK B Corps have attracted a median of £1.5 million in growth funding from external investors, 18% more than comparable UK businesses, demonstrating strong investor confidence in sustainable business models.
  • Resilience: B Corps had the highest survival rate (93%) since 2020, compared to 84% of UK businesses.

At Better Business Day in Parliament on Tuesday 9th June, more than 150 business leaders from across the UK came together to show how stakeholder governance can help businesses grow, invest and create good jobs.

While our businesses are innovating for 2026, the legal framework they operate under is still stuck in 2006. Section 172 needs an upgrade.

As my MP, I would be grateful if you could:

1. Raise the urgent need to upgrade corporate governance in Parliament to ensure our laws reflect the modern economy. I can connect you with the Better Business Act secretariat to share further resources if that would be useful.
2. Meet with the Better Business Act team to learn more about the campaign and how this reform would work in practice. I would be very happy to introduce you to the team if useful.

I look forward to hearing your thoughts on how we can upgrade to Better Business across the UK.