Social economy

The term social economy refers to all business activities that are not only driven by a strong social mission but also intended to be economically viable. This includes cooperatives, mutual societies, non-profit associations, foundations and social enterprises, covering a wide range of activities. The aims of social economy organisations are generally to provide goods and services (including employment opportunities) to their members or community, and pursue general interest goals such as environmental protection. In this way, social economy organisations aim to make a profit for people other than investors or owners.

Eurwork life; European Observatory of Working Life. https://www.eurofound.europa.eu/observatories/eurwork/industrial-relations-dictionary/social-economy

In the UK the social economy is more formally defined and described unde the Social Value Act and comprises of activities carried out by organisations.

There are also formal structures for organisational practice, that cover housing, living and working, these might include;

• Co-operatives
• Community Benefit Societies.
• Mutuals
• Voluntary organisations
• Social enterprises
• Associations
• Charities
• Foundations
• Trusts
• Employee Owned Businesses

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