Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-13-Speech-4-258-000"
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"en.20120913.29.4-258-000"2
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"Enterprises are categorised as social undertakings where they aim to achieve social impact and where the primary purpose of the enterprise is to achieve social goals rather than simply to maximise profits. Although social undertakings often receive public funding, investment via private funds investing in a targeted way in social entrepreneurship remain indispensable to their growth. Such social investment funds are rare, however. Cross-border investments in such funds have proven to be complicated and expensive. The European fund is designed to help tackle the chronic shortage in funding for undertakings and initiatives in the field of social entrepreneurship. Access to the fund is designed to be available to undertakings that use their profits to achieve social goals. For that purpose, the idea is that the money in the fund will be opened up, first and foremost, to institutional investors and wealthy individuals. However, experience with micro-credit
has shown that well-meaning projects for social purposes with intensive private sector involvement can develop an uncontrollable momentum, under which those who suffer are exactly the people who should have benefited. In this regard, the proposal on the table seems to me too ill-considered, for which reason I am unable to give it my support in the vote."@en1
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