Theme3 (1)

1.

Theme 3. The characteristics of
the social economy

2.

The concept of the social economy
• The social economy includes a set of economic and
business activities carried out by private entities, with
the aim of meeting the collective interest of its
participants or the general economic and social
interest, in accordance with the principles of the social
economy.

3.

The concept of the social economy
• In April 2023, the UN General Assembly took a significant first step toward
shaping a more inclusive global economic structure by passing
a resolution recognising the social economy as critical to inclusive and
sustainable economies.
This follows on work by other international bodies, as seen in:
• EU Social Economy Action Plan (2021)
• OECD Recommendation of the Council on the Social and Solidarity Economy
and Social Innovation (2022)
• ILO Resolution concerning the social and solidarity economy (2022)
The social economy is made up of organisations that put social and
environmental concerns at the centre of their business model.

4.

The key principles of the social economy
• Prioritising people and putting positive social change above profit.
• Reliance on collaboration and cooperation across diverse industries
and sectors – both public and private
• Reinvesting most profits and surpluses to deliver social benefit to
community users or society at large.

5.

The social economy includes the following types of
organisations
• Charities and not-for-profit associations
• Social enterprises
• Co-operatives
• Philanthropic organisations.