The "Social Economy Category" brings together 37 members from cooperatives, mutuals, associations, foundations and social NGOs. The Social Economy sector covers a range of concepts used in the various Member States such as “the solidarity economy” and “the third sector”. Beyond national differences regarding terminology and legal forms, Social Economy enterprises are all inspired by common values such as solidarity, social cohesion, the primacy of the individual over capital, social responsibility, democratic management and the fact that they are not driven by profit and any profits are reinvested into the company and into society.
Social Economy is therefore a different way of doing business, which continuously associates the general interest, economic performance, social considerations and democratic operation.
Social Economy enterprises represent 10% of all European businesses, with 2 million undertakings and 6% of EU’s employment.
All this makes the Social Economy sector a key element of the European social model and a key player in attaining the objectives set out in the EU2020 Strategy.
For more information on the Category
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