Aligning commercial performance with social impact
The Impact Economy, also known as the Social and Solidarity Economy (SSE), is guided by the 17 ‘Sustainable Development Goals’ promoted by the United Nations. At the heart of this economy are social entrepreneurs who, through the creation of Social Impact Companies (SICs), aim to conduct economic activities while generating measurable social impact.
The Social Impact Company (SIC) is a unique and unprecedented legal status in Europe, intended for both existing companies and aspiring social entrepreneurs who wish to launch socially innovative activities.
The entry into force of the law of December 12, 2016, creating social impact companies, has significantly contributed not only to the national recognition of the social and solidarity economy but also to establishing the necessary legal framework for the development of social entrepreneurship.
The Social Impact Company (SIC) is open to any natural or legal person, acting alone or in partnership, who wishes to establish a commercial company to engage in activities in line with the principles of the social and solidarity economy.
Through the SIC approval, values of solidarity, altruism, and non-profit are supported, encouraged, and highlighted, not as accessory characteristics, but as determining elements at the core of socially committed enterprises.
The term SSE encompasses a range of structures based on common values and principles: social utility, cooperation, local anchoring adapted to the needs of each territory and its inhabitants. SSE activities provide responses to social and societal needs by combining sustainable economic activities with positive social effects. The actors contribute to inclusive, smart, and sustainable growth, quality jobs, social cohesion, and local and regional development.
SSE aims to create measurable social impacts, which is why it is also referred to as the Impact Economy. This impact contributes to achieving the 17 ‘Sustainable Development Goals’ promoted by the United Nations.
