Brussels, 26/10/2011 (Agence Europe) - On Tuesday 25 October, the European Commission adopted a raft of measures to promote more responsible businesses and create a legislative environment that is more conducive to supporting social and sustainable entrepreneurship. The social dimension of business was in this instance defined very broadly, given that it also includes the creation of sustainable jobs, social integration, the reduction of emissions and waste, the promotion of innovative solutions and the use of the internet. The objective of such an approach is to create a genuine ecosystem that promotes the social entrepreneurship model. Today, the social economy represents 10% of all European businesses but the Commission would like to encourage its development by improving access for these companies to different sources of funding. The raft of proposals is presented in the form of three main components:
Improving access to funding. The Commission is seeking to promote the micro-credit principle and to this end intends to provide a budget of €90 million as from 2014 in an effort to establish the foundations for an environment conducive to improving funding for socially responsible enterprises. Similarly, specific investment priorities will be included in the 2014-2020 structural funds perspectives.
Improving transparency. This objective includes the creation of social enterprise labels and certificates by 2012, in an effort to create a publicly accessible European database. Through this raft of measures, the Commission is also seeking to unify this market through the setting up different platforms for connecting entrepreneurs, end users and the public authorities.
Improving the legislative environment. The Commission is proposing the simplification of regulation regarding the status of a European cooperative company, as well as European foundations. It would also like to include working conditions as one of the criteria rewarded in the allocation of public markets in the social and medical sectors, as a way of promoting the principles of non-discrimination, equal opportunities and transparency. Commissioner Michel Barnier, in charge of the internal market, stated on Tuesday 25 October that “social business is one of the pockets of untapped potential in our single market”. Through these measures, the Commission is attempting to bring a response. (JK/transl.fl)