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It's called the "social economy," and it has the potential to create millions of jobs and boost Romania's economybut it's still very much a work in progress.
The Organization for Economic Cooperation and Development says the social economy accounts for just 2% of Romania's GDP, but it has the potential to create millions of jobs and boost the country's economy by 10%, the Guardian reports.
In fact, the social economy accounts for 10% of Spain's GDP and 2.8 million jobs, according to the Spanish Ministry of Labour and Social Economy, which coordinates the country's social economy policy.
But in Romania, only 158 social enterprises have obtained the government's official certificate for the sector, which brings no specific benefits or tax exemptions, the Local reports.
" Romania is not sufficiently informed with regards to the social economy," says Simona Bucura Oprescu, Romania's labor minister.
She says her ministry is open to social enterprises acquiring the government's certificate, but some audience members say they don't see the need as the certificate brings no specific benefits or tax exemptions.
At a conference in Romania last month, Angela Achi ? 'ei, president of the event host, called for fiscal and non-fiscal measures
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Social Entrepreneurship
Spotlight
Celebrity Chef Jamie Oliver Backs Social Saturday
UK will be celebrating its first national celebration of social enterprises dubbed as Social Saturday. World famous celebrity chef Jamie Oliver, who founded the Fifteen restaurant chain.