Beyond Capital: the next generation of social enterprises
The European Commission's Social Business Initiative (SBI) was launched in 2011 to bring social and economic transformation by creating a positive environment for social entrepreneurs. However, a recent comparative report published by the European Commission (Social Enterprises and their Ecosystems in Europe - 2020) revealed that the potential of social enterprise ecosystems is still far from being wholly realized. The global COVID-19 pandemic has sparked a severe economic downturn, damaging various industries and causing job losses. On the one hand, social enterprises and, more broadly, the social economy played a critical role in assisting people and organizations dealing with the crisis. On the other hand, they faced the same issues and had to adjust to a highly shifting and complex environment. Uncertainty about the future and the timetable for returning to normalcy necessitate the development of specific skills and instruments to support the sustainability and survival of social economy organizations, which play an essential role in today's society.
Beyond Capital aims to lower the failure risk of newly founded social economy enterprises, the economy that works for people. The project intends to assist early-stage social entrepreneurs and managers in developing sound financial planning and by providing them with all of the elements required to create a fully operational finance function: internal financing, external financing, needs analysis, working capital management, income and financial balance diversification, financial planning, and programming. Furthermore, the project disseminates in-depth knowledge of financial and banking market instruments, both traditional and more innovative, such as Social Impact Bonds and Green Bonds, Crowdfunding, and others that provide answers to the specific needs of social enterprises and non-profit organizations.
To sum up, the project:
- Offers advanced training for those working in social enterprises, cooperatives, and non-profit organizations, combining the knowledge necessary for business management and financial skills.
- Disseminates advanced knowledge on the supply of finance and promotes sustainable funding opportunities for the social enterprise.
- Promote a sense of initiative and entrepreneurial culture intended as the ability to act in innovative and enterprising ways, especially regarding financial planning and management.
For further information, please visit the project's website: www.beyond-capital.eu
MALTA / Maltese Italian Chamber of Commerce
CYPRUS / SYNTHESIS Center for Research and Education
MALTA / Malta Stock Exchange Institute
SPAIN / Gestión Estratégica e Innovación
ITALY / Exeo Lab
GERMANY / European Center for Social Finance
BELGIUM / Coopération Bancaire pour l’Europe