“Improving Access to Funding” – a complementary Subject Paper from the GECES
The “Social enterprises and the social economy going forward” report, adopted in October 2016, is a capstone of the European Commission’s Expert Group on Social Entrepreneurship (GECES).
As a supporting document to the GECES report, the paper sheds light on the considerations behind the recommendations included in Chapter 2 of the report, elaborating in detail on specific ways of implementing them through the aid of illustrative case studies.
As part of creating an ecosystem that improves access to finance for social enterprises, the working group focused on three key policy domains – capacity building, private funding and public funding. The Working Group’s recommendations were formulated against the backdrop of diverging interpretations of the very concept of social enterprises, their differing financing needs, as well as certain regulatory disincentives across many Member States.
In this context, three principal ‘blockers’ to accessing finance by social enterprises were identified. The recommendations that figure in the GECES report were directly informed by certain needs, which are discussed in the report in detail.
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