Abstract
Social enterprises have gained importance in European and national policies in recent years. There is a growing awareness that they create sustainable and inclusive growth and stimulate social innovation. Moreover, the question can be raised as to whether social entrepreneurship and, more precisely, legal forms available for social enterprises can make an impact on sustainable development. The United Nations 2030 Agenda for Sustainable Development, including its 17 Sustainable Development Goals (SDGs), is committed to eradicating poverty and achieving sustainable development worldwide by 2030. In the run-up to the adoption of the 2030 Agenda, the European Commission worked closely with the European Union (EU) Member States to ensure an ambitious global outcome. The European Commission committed to mainstreaming the SDGs into EU policies and initiatives. Amongst different tools for the implementation of SDGs, social entrepreneurship or social business can contribute to this process both nationally and internationally. The aim of this paper is to evaluate the current situation and capture best practice in the Baltic countries (Estonia, Latvia, and Lithuania) and the Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden), through comparison of the legal forms available for social entrepreneurship or social business.
Highlights
Social enterprises have gained importance in European and national policies in recent years
The aim of this paper is to evaluate the current situation and capture best practice in the Baltic countries (Estonia, Latvia, and Lithuania) and the Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden), through comparison of the legal forms available for social entrepreneurship or social business
The comparative research of the legal forms available for social enterprises in particular countries showed that Nordic and Baltic countries, despite significantly different experiences and historical backgrounds, have a lot in common when developing a legal environment for social entrepreneurship
Summary
Social enterprises have gained importance in European and national policies in recent years. To promote the social economy, we must develop an environment that facilitates access to funding, adequate legal framework, and awareness at both the national and local levels. This paper is based on comparative analysis of the legal forms as essential part of the framework for social entrepreneurship or social business in the Baltic and Nordic countries, in order to distinguish those main features and best practices of the legal regulation in this area that could help to achieve the SDGs. Methodologically, this research focuses on the legislation of the EU and some recent initiatives that were undertaken by the Baltic and Nordic States to promote the development of social business through the development of new or adaptation of existing legal forms. The justification of the concept of social entrepreneurship and the definition of its legal framework and regulatory characteristics remain important (e.g. Austin, Stevenson and Wei-Skillern, 2006)
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