You want to invest in BBB for your newly launched company? And you want to know BBB Accreditation Worth Your Time and Money or not? Don’t worry, I’ll explain everything you need to know.
The Better Business Bureau (BBB) is a non-profit that helps businesses gain trust and connects people with reliable companies. It provides effective solutions for problems that are being faced by both, companies and consumers.
Businesses need to get BBB accreditation to become members and they have to follow the standard set of rules by BBB. In this post, we will go into whether it is worth getting the membership or accreditation in 2024.
➜ Increase in Trust and Credibility
For new or growing businesses, getting BBB accreditation is very helpful as it helps in gaining the trust of new customers which resultantly strengthens the company’s profile. These businesses are expected to provide excellent customer service so they respond in the same way and enhance their marketplace trust.
➜ Handling Customers Complaints
BBB-accredited businesses provide solutions to various problems of customers and resolve disputes. This customer service increases their confidence in customers’ eyes and builds their positive reputation in the community.
➜ Is Accreditation Very Costly?
Accreditation fee is classified according to the size of the company. Currently, it is not available on BBB’s website but the costs range from a few hundred dollars to almost about $4000 yearly, depending upon the business size.
Usually, it is difficult for small businesses but as an initial and worthwhile investment, it is quite manageable and affordable.
Statistics provided on Better Business Bureau’s website show that in 2023 the website was 218 million times viewed by people to check credible business profiles. This shows that taking BBB accreditation is worth making the decision.
➜ Conclusion
In conclusion, investing time and money in becoming BBB-accredited is a gainful decision (especially for new businesses) that helps in establishing a positive image fast, as compared to non-accredited companies.
Businesses get the benefit of getting customer confidence and take advantage of getting the tag of credible business which strengthens their profile. Moreover, the annual fee is not so costly if it is counted as a money-making investment.
➜ Frequently Asked Questions.
1. How is the size of a business decided?
There are certain factors to measure the size of a company but the most important parameter is the number of employees working in a company.
2. Is it difficult to get Better Business Bureau accreditation?
The process is not easy, as it may take from days to a few weeks to vet and verify any business until the standard procedure is done.
3. What is the cost of BBB membership?
There is an annual fee for becoming a BBB member, depending on the employees your business has. For 1-3 employees it is $510, for 4-7 it is $585.
4. Are there any risks involved in BBB accreditation?
If a company follows ethics and the standard code of conduct given by BBB, there is a very low chance of risk involved if external conditions are fine.
