Genashtim 2024

The 3 Ps (Profit, People and Planet) have been much touted about for many years.
But what should come first?

We believe that without profit, we are of no use to anyone as a business. We cannot look after our people, our customers or the planet. So, we are unashamedly “profit-first”. Nevertheless, we do insist on being impactful in the way we make profits. Hence it did take us a very long time to become significantly and sustainably profitable.

This short video summarises our journey so far

On top of creating impact with how we make profits, we are also applying some of our financial success to create more impact. From recent years’ profits-from-impact, we have set aside US$ 500,000 to invest in impact projects and some philanthropic causes. This video shows some examples of such investments. More details can be found in our website.

We are continuing to allocate one-third of our profits for the benefit of our people who made this profit possible. This has reached a significant level. Apart from distributing this as profit sharing, and improving benefits for our people, we are contemplating broader and longer-term initiatives.

Our significance in ESG has prompted large businesses and governmental institutions to approach us for collaboration. This has prompted us to brainstorm on investing in and broadening our offerings and presence in ESG Services. We hope to be launching a few of these initiatives during the course of 2025.

Whilst there has been modest revenue growth from 2023, the trend has been an incredibly positive and a happy one, as our revenues for 2024 is more than 7 times that of pre-COVID 2019.

For 2025, we are expecting significant growth, mostly from the work we have been doing for B Lab. Apart from the increasing number of submissions for B Corp certification, more complex tasks and other duties are being transferred to To-Cert. We are very proud of this trust and confidence accorded to us by B Lab Global.

B Lab has started the process of implementing a new assessment platform, and will be evolving into a standards-setting body. With this, it is important that To-Cert partners with a more established global entity. We have started this process, and hope to have a clear way forward within the first quarter of 2025.

Once again, we owe an immense gratitude to our many stakeholders for not only contributing to our success, but also enabling us to use this success to create opportunities and a better life for those who are less fortunate.

At Genashtim, we maximise profits not as an end, but as a means to reinvest in the causes that matter.