eECONOMY

The eECONOMY project aims to offer a service for social impact measuring and monitoring on the market

eECONOMY

is a project of the Cooperative for Ethical Financing in which the Green Network of Activist Groups is a partner. The project is funded through the Operational Program Effective Human Resources of the European Social Fund, and it is implemented by the Ministry of Labor, Pension System, Family and Social Policy and the National Foundation for Civil Society Development through the call Strengthening the business of social entrepreneurs - phase I.

Starting a new social entrepreneurial activity of social impact measuring

The eECONOMY project aims to offer a service for social impact measuring and monitoring on the market through the existing Economy for the Common Good (ECG) methodology, recognized by the EU. The project will strengthen the capacity of employees of the cooperative and ZMAG, but also of other users of services for social impact measuring and monitoring and it will conduct a campaign to raise awareness of social impact measuring in order to significantly increase the number of social entrepreneurs quantifying their social impact, and which will bring them multiple benefits:

  1. through quantification, it is easier to detect the return on investment in a company and thus facilitate access to capital
  2. quantifying the impact helps the organization to create a real picture of how much they really make a difference with their projects and actions, and to transparently present the actions and business to the public which, in turn, affects the long-term motivation and sustainability of social entrepreneurs, but also the public visibility and awareness of the great contribution to the community
  3. although not yet mandatory in most countries, the trend is, through the development and accessibility of social impact measurement models, to ensure:
    - accessibility to tenders, especially European ones (for example, programs for SEs of the European Investment Fund and the EU Program for Employment and Social Innovation EaSI, whose propositions are directly related to SEs that can show their measured social impact)
    - entry into the registers of social enterprises, whereby on the basis of this status it will be possible to obtain financial and market benefits (more favorable loans, easier employment of labor force, tax relief…)
    - obtaining certificates for more visible and better positioning on the market of increasingly demanding and aware customers

Social impact measuring at the same time not only strengthens the capacity of social entrepreneurs, but also has a positive effect on removing other barriers such as access to financing and the lack of visibility and recognition of social entrepreneurs in the public.

Social entrepreneurship

Social entrepreneurship is an entrepreneurial model for solving economic, social and environmental issues that encourages employment, social inclusion and sustainable development, but as such is not sufficiently developed in Croatia. The main problems faced by social entrepreneurs are lack of skills and capacity, lack of capital, poor public visibility of social entrepreneurship, as well as lack of awareness of social entrepreneurship and the positive impact it can have on society. One of the biggest challenges for social entrepreneurs in Croatia, but also beyond, is the application of methodologies for social impact measuring. By implementing the service of social impact measuring, we will enable social entrepreneurs to quantify their social impact and ensure greater visibility before social investors and funds, but also strengthen visibility through a transparent presentation of contributions to society to the general public.

 

Main project partner

Cooperative for Ethical Financing (ZEF)


Partners

Green Network of Activist Groups


Implementation time

October 2020 – January 2022


Project value

862.841,48 HRK


Contact person

Vera Gjokaj, Main consultant
Email: vgjokaj@zef.hr
Phone: +38595 7511 435

The project is co-financed by the European Union through the European Social Fund. The content published on this website is the sole responsibility of ZMAG.

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