BUSINESS INFORM №8-2014

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Section: Innovative Processes
UDC 336.645.3:334.012.4
Vasylchuk I. P.
Social Enterprises: Characteristics of Organizational and Legal Structure and Funding (p. 61 - 65)
The purpose of the article is to investigate the features of formation and purpose of innovative forms of organization of social enterprises and especially funding for their activities. The study highlighted new types of commercial organizations with a hybrid form of organization, which have a dual purpose: business – profit and social – the creation of public goods. The features of the activities of a limited liability company with a low income, which are known in the USA as «L3C» (English.– Low-Profit Limited Liability Company) and companies of public interest "CIC" (English.– Community Interest Company), that are legalized in the UK. It is found that despite the active dissemination of new hybrid forms of social enterprises, there is a number of problems that limit their establishment and operation. The following constraints were identified: legal restrictions relating to compliance with the statutory purposes; limited opportunities to raise capital; the difficulty of the mission, including the achievement of social goals. It was revealed that the hybrid forms of social enterprises have features in financing due to the need to achieve a double mission. The experience of the UK in the financing activities of public interest was considered. It was proved that the obsolescence and uncertainty of the legal framework and judicial precedents have necessitated changes in legislation and the creation of new hybrid forms of organization of businesses with a social mission.
Keywords: sustainable development, corporate social responsibility, social enterprise, \"hybrid\" form of incorporation, the company public interest (CIC), a limited liability company with low profit (L3C), funding
Bibl.: 11.

Vasylchuk Iryna P. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of Finance, Banking and Insurance, Kryvyi Rih Economic Institute of the Kyiv National Economic University named after Vadym Hetman (16 Medychna Str, Kryvyi Rіh, Dnіpropetrovsk region, 50051, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Vasylchuk, Iryna P. (2014) “Social Enterprises: Characteristics of Organizational and Legal Structure and Funding.” Business Inform 8:61–65.

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