The Wheel Welcomes Publication of EU Action Plan for the Social Economy
‘Action Plan will enhance social investment, support social economy actors and social enterprises to start-up, scale-up, innovate and create jobs…’
The Wheel, Ireland’s national association of nonprofits and social enterprises has welcomed the publication today (9 December 2021) of the European Commission’s EU Action Plan for the Social Economy, describing it as “a welcome boost for nonprofits and social enterprises in Ireland”. According to the European Commission, the Action Plan aims to help the European social economy thrive, tapping into its economic and job-creation potential, as well as its contribution to a fair and inclusive recovery, and the green and digital transitions.
The social economy encompasses a variety of businesses, organisations and legal forms, such as charities, nonprofit associations, cooperatives, mutual societies, foundations and social enterprises. They share the feature of systematically putting people first, reinvesting profits back into the organisation or a social cause, and having a participatory form of governance. There are 2.8 million social economy entities in Europe that employ 13.6 million people and which offer solutions to key challenges in our societies.
Welcoming the publication of the EU Action Plan for the Social Economy, Deirdre Garvey, CEO of The Wheel said, “The Covid-19 pandemic has highlighted our interdependence at every level: global, European, national, local and community. ‘Building Back Better’ must be more than a slogan. It requires us to transform the way we do things. We need to move from the economic and social model that rewards the individual at the expense of society, to one that put the community at the heart and fosters our responsibility to each other and our communities. This change must be integrated into all aspects of the economy at every level including our business models.
“The EU Action Plan for the Social Economy will enhance social investment, support social economy actors and social enterprises to start-up, scale-up, innovate and create jobs. We encourage the Government to embrace it and integrate the plan in national economic policy,” said Deirdre Garvey.
The EU Action Plan for the Social Economy will be publicly presented at a hybrid event in Brussels on 16 December 2021.
For more information on the EU Action Plan for the Social Economy see:
Questions and answers: Social Economy Action Plan
Factsheet: Social Economy Action Plan