The Socioeconomic Impact of the Social Economy

Social economy companies such as Asisa and Assistència Sanitària not only contribute to the nation’s economic growth but also have an extra socioeconomic impact which is inherent in the unique behaviours that mark their principles and values.

In line with its commitment to this business model, Fundación Espriu, along with Grupo Cooperativo Cajamar and Corporación Cooperativa Mondragón, sponsored the study “Analysis of the Socioeconomic Impact of Social Economy Values and Principles in Spain” which was prepared by Abay Analistas under the direction of Cepes.

Presented in Madrid on 18 December, the report quantifies the differential contribution from the social economy business model as concerns social cohesion and its impact on employment and territorial cohesion.

Considered pioneering internationally, the analysis concludes that the social economy contributes 6,229 million euros each year in societal benefits; 3,930 million euros each year in wages for groups that have difficulties finding jobs and 1,770 million euros each year in savings for government agencies.

Moreover, this analysis helps identify the main features of this business model which generate social value such as the creation of inclusive employment, higher levels of job stability, a lower wage gap and higher levels of equality.

Spain, which was one of the first countries to develop a social economy law, is home to businesses in this sector generating more than 10% of the GDP.

The study is available is this link