EMPOWER

The social economy (SE) is a growing reality in the economy and territory of the EU. It comprises 2.8 million enterprises and organisations in different forms – including cooperatives, mutual, social enterprises, associations and foundations – engaged in economic activity, representing 8% of GDP in the EU and 13.6 million workers, or 6% of employees in Europe.
From very small enterprises (VSEs) and SMEs to large groups, social economy entities operate in every sphere of activity. Given its importance and the breadth of its activities, the SE is a primary driver of innovative and enduring economic growth in Europe that is socially inclusive and environmentally sustainable. However, the main problem is that 50% of the newly born social enterprises survived less than three years; thus, many jobs continue to disappear across Europe. Additionally, youth unemployment has been on the rise in Europe due to the pandemic crisis and there is a lack of knowledge, research, and necessary tools to help this transition in the youth sector.