In these stormy times, improving SME policy is high on our agenda. SMEs are important drivers of growth, jobs and social cohesion but because of the global crisis they face more and more financing constraints.
In 2008-2009, they suffered a double shock: a drastic drop in demand for the goods and services they provide, and, on top of that, a credit crunch. These events have had a serious effect on SMEs’ cash flows and liquidity. Many of them were forced into bankruptcy, thus contributing to record levels of unemployment in many European countries.
Staffan Nilsson`s opening speech at the 5th Froum on Cooperative banks and SMEs
Today, and with this speech, I will try to explain who is interested in social business in Europe, what it is, why we need to develop it and how we can do so. Keep in mind these 3 main messages:
• social business can be a solution for economic growth AND social development;
• social business can become DNA for tomorrow's Europe;
• social business can help people to engage in building a sustainable Europe.
President Nilsson speaking on social business at TEDx Utrecht University