Better Business Bureau (BBB) is a corporation consisting of a number of separately governed and incorporated local BBB organizations in the United States, associated with the Council of Better Business Bureaus (CBBB). The Better Business Bureau gathers information and records about businesses both locally and nationally to provide information on a business’ reliability and its ethical business practices. BBBs simply act as mutually trusted intermediaries between consumers and businesses and alert the public of fraud against consumers and businesses.
According to BBB’s official website, its mission is to be the leader in advancing marketplace trust. They envision an ethical marketplace where buyers and sellers can trust each other by carrying out the following: (1) creating a community of trustworthy businesses, (2) setting standards for marketplace trust, (3) encouraging and supporting best practices, (3) encouraging and supporting best practices, (4) celebrating marketplace role models and (5) denouncing substandard marketplace behavior.
All BBB accredited businesses are rated A+ (highest) to F (lowest). The BBB grade is based on their file information about the business and the feedback they acquire from its customers. They gather not only information and positive reviews but complaints about a business’ product or customer service. To remain unbiased and maintain fairness, the Better Business Bureau refrains from recommending or endorsing any specific business, product or service.
BBB Accreditation is an honor. Only businesses that meet their high qualifications can join BBB. And all these businesses should live up to BBB’s standards for trust. This makes BBB’s rating an important factor to consider for consumers and customers before buying and supporting a specific business’ product.
A business that is rated A+, the highest possible rating, from the organization means that the specific business meets the qualifying and primary factors the BBB considers, mainly integrity and performance. Performance refers to a business’ track record of delivering results and how the business addresses customer concerns in a timely, satisfactory manner. Integrity includes the ethics and intents of a business, and how the business itself run.
The Better Business Bureau rating works by evaluating sixteen important factors considered by the organization. These factors include the type of business, time in business, competency licensing, complaint volume, background information, clear understanding of business, the number of serious, unanswered, unresolved and total complaints and whether a company has earned BBB accreditation. Thus an A+ rated business is considered by the Better Business Bureau as an organization that has excelled in the bureau’s factors and is worthy of passing their standards as a reliable company that consumers can trust and support.