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What is social economy?
The concept of social economy is a combination of two words which are sometimes in opposition one to the other:
- « Economy » has a concrete relation to the activity of producing goods and services which contribute to a net increase in collective wealth while using a business as a form of organization;
- « Social » refers to the social profitability of that activity and not only to the economic component. This type of profitability is evaluated through its contribution to democratic development, through the support from an active citizenship, and through the promotion of values and initiatives aimed at an increased responsability on a individual basis and in relation to the community. Social profitability thus contributes to the improvement of the quality of life and the well-being of the general population, notably thru the increase in the number of services offered. Just as in the traditional public and private sector, social profitability can also be evaluated in terms of the number of jobs created.
Altogether, social economy, taken as an entity, is a blending of organisms and activities stemming from a collective entrepreneurship will and adhering to the following rules and principles:
- A social economy business aims at serving its members or the community as opposed to simply generating profits and seeking financial profitability;
- It has autonomy of management in regards to the State;
- Its statutes provide for democratic decision-making and include users/clients and workers as part of the process;
- It gives priority to work and people over capital when it comes to redistributing revenues and surpluses;
- Activities are based on principles of participation and responsability on an individual and collective basis.
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