Understanding Social Entrepreneurs’ Views on Strategies for Ensuring Social Economy Sustainability

Abstract

Abstract The research purpose. This study aims to probe the internal consistency of survey questions aligning with priorities outlined in the World Economic Forum Insight Report "Unlocking the Social Economy" within Latvia and Georgia. It delves into the structural makeup of contemporary social entrepreneurs in these nations, their attitudes towards report priorities, and perceptions on fostering social economy development. Additionally, it explores how social entrepreneurship impacts Sustainable Development Goals (SDGs) like 11, 12, and 8, and proposes ways to enhance collaboration between public bodies and social economy actors in Latvia and Georgia. Design / Methodology / Approach. The body of the survey was constructed according to the World Economic Forum Insight Report “Unlocking the Social Economy” priorities and the developed questionnaire was distributed in Latvia and Georgia from February to March 2024. The respondents were social entrepreneurs from both countries. The pilot study aimed to test the internal consistency of the survey`s questions. Findings underscore the role of social innovation in tackling contemporary development issues, and in fostering employment and economic growth. It delineates the modern social entrepreneur's profile in Latvia and Georgia, analyses their stance towards report priorities, solicits their views on actions vital for social economy growth. Originality / Value / Practical implications. Social entrepreneurship is commonly recognized as an integral element of Catalyst 2030, a global movement of social entrepreneurs and social innovators looking to attain the SDGs by 2030. In particular, SDG 11 (Sustainable Cities and Communities), SDG 12 (Responsible Consumption and Production), and SDG 8 (Decent Work and Economic Growth) have been the most strongly impacted by sustainable entrepreneurship research. The research contributes to the process of unlocking the social economy towards an inclusive and resilient society more comprehensive for the social entrepreneurs and public bodies aiming to foster the development of the social economy. The main value of the research is revealing the need to update the relation of the public bodies of Georgia and Latvia to the interaction of social entrepreneurs.