SOCIAL & SOLIDARITY ECONOMY COMPANIES ARE MORE RESILIENT TO THE HEALTH CRISIS / ECONOMIC INSTABILITY
Updated: May 10, 2022
Or at least this is what the French Observatory on the social and solidarity economy (SSE) recently proved through a study.
> What is a social and solidarity economy company?
The SSE is a set of socio-economic measures (formal or informal; individual or collective), which span economic, social, environmental, political, communitarian or holistic dimensions. They are independent from public authorities, guided by values such as equity, solidarity, sustainability, participation, inclusion and a commitment to the community. And this economy is growing. For instance, in France, it represents 14% of employment, with over 2.4 million employees.
> Why are the structures of the SSE more resistant to the economic turbulence linked to the health crisis?
First, because of their economic model, trying to combine profitability, social and environmental utility. Even if their economic dynamism has been significantly slowed down by the health crisis, its level of employment exceeds that before the health crisis in the majority of the countries. What is even more remarkable is that numerous jobs were created, even for the sectors most impacted economically such as sport, leisure and culture, and accommodation-catering-solidarity tourism.
Second, the structures are non financialized and little globalized, therefore less affected by the crisis. By statute, their profits must also be reinvested in maintaining or developing the business, an interesting strategic choice. Third, one can also mention the commitment of the employees, fighting at the same time for a cause and for their employer. > Are SSE Structures the future of work?
Economic viability, sustainability, commitment, ... the new business model presented by SSE Structures is of a particular interest for many companies and corporate groups, which tend to reflect on the way they work and their commitments. The opportunity for impactful companies to emerge?
Within the YIN we believe in these corporate actors of change, and are really grateful for the commitment demonstrated by our members. We are looking forward to benefiting from new members, advice and resilience.
A few sources to go further: (French only): https://www.novethic.fr/actualite/social/economie-sociale-et-solidaire/isr-rse/les-entreprises-de-l-ess-plus-resilientes-face-a-la-crise-sanitaire-et-l-instabilite-economique-150357.html
Social and Solidarity Economy (multilingual): https://www.ilo.org/global/topics/cooperatives/projects/WCMS_546299/lang--en/index.htm
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