BBB is 100!
One hundred years of anything is quite an accomplishment in itself, but when you stop to think about organizations that championed business ethics and marketplace trust since day one, Better Business Bureau stands alone.
See how we evolved in 100 years.
The Evolution of BBB and the Marketplace:
1912: The first BBB was formed in Minneapolis as the Vigilance Committee—a name which lasted until 1916.
1914: All United States currency was based on the gold standard.
1915: The top industry for BBB inquiries was "Door to Door Insurance Sales."
1916: The Workmen's Compensation Act of 1916 provided some protection for federal employees.
1918: Better Business Bureau of Tacoma, WA was founded.
1928: Television was seen for the first time.
1928: The first Canadian BBB was founded in Montreal.
1929: Stock prices crash and throw the United States into a devastating economic slump that later came to be known as the Great Depression.
1930: Many BBB offices were forced to temporarily close their doors, including: Augusta, Birmingham, Buffalo, Canton, Denver, Hartford, Lancaster, Lima, Louisville, Montreal, Peoria, San Jose, and Tulsa.
1934: The Securities and Exchange Commission (SEC) was created to protect consumers from stock and securities fraud.
1941: Pearl Harbor was attacked and the United States declared war on Japan, formally entering World War II. The global market suffered, but the US emerged with the healthiest economy.
1950: The first consumer credit cards became available.
1951: There were 81 BBB locations, with a total of 12 branch offices.
1958: There were approximately 11 million small businesses in the US; now, there are more than 27 million.
1961: The total number of inquiries processed by the entire BBB system was 100,000.
1965: The Organization of Petroleum Exporting Countries (OPEC) was formed and effectively began regulating market oil prices worldwide.
1970: The National Better Business Bureau and the Association of Better Business Bureaus merge to form the Council of Better Business Bureaus.
1978: The largest automobile manufacturer in the world, General Motors, turned to BBB for help mediating disputes with customers who purchased vehicles.
1985: The annual average unemployment rate was 7.2%.
1990's: The explosion of the Internet in the late 1990's created an entirely new marketplace.
1991: The first BBB site on the Internet (not yet called the World Wide Web) was from the BBB of Massachusetts, Main, Rhode Island and Vermont, providing one of the first Internet sites to offer a searchable reliability report database.
1993:BBB Seattle merges with BBB Tacoma to create Better Business Bureau of Western Washington.
1994: The North America Free Trade Agreement (NAFTA) is signed by Canada, Mexico and the U.S. to facilitate trade and eliminate investment barriers.
1996: BBB of Western Washington merges with BBB of Portland, Ore. to create Better Business Bureau serving Oregon and Western Washington.
1999: The Dow Jones Industrial Average closed above 11,000 for the first time in its history.
2005: 8,300,000 American adults became victims of identity theft.
2005: Better Business Bureau serving Oregon and Western Washington merges with BBB Alaska to become Better Business Bureau serving Alaska, Oregon and Western Washington.
2007: The U.S. subprime mortgage collapsed, and more than 25 subprime lenders declared bankruptcy; Americans lost $8.3 trillion in savings, investments and retirement.
Today: Annually, the BBB system processes more than 87,000,000 services to the public.
Today: There are 116 independent BBBs across North America serving BBB Accredited Businesses and consumers in local communities.
The Future of BBB:
Better Business Bureau has stood alongside consumers for 100 years as a valuable, trustworthy resource for information. While the marketplace evolves, BBB will continue to uphold the motto "Start With Trust."
For 100 years, the people at BBB have pursued integrity, honesty and reliability. These principles make the world work; the ideals of a harmonious marketplace still exist and will continue to guide BBB's work into the future.