The social economy has also been shown to be resilient in economic downturns. Following the Global Financial Crisis in 2008, in countries such as Italy and Belgium, employment in the private sectors decreased sharply during the period 2008-2010, whilst employment in social enterprises grew by 11.5% in Belgium and 20.1% in Italy. In France, between 2000 and 2014, employment in the social economy registered significant and continuous growth of 25%, whilst employment growth in the private sector was much lower at just 6% (4) .
According to Social Enterprise UK, for every £100,000 of turnover, social enterprises create three jobs, compared with two-thirds of a job in the private sector. Social enterprise employment is concentrated in more deprived communities, creating disproportionately more jobs there. 30 per cent of the total jobs created, help to keep money circulating in low income communities. Social enterprises usually target job creation for those who are furthest from the labour market, with 40% actively seeking to employ people with disabilities, care leavers, ex-offenders, the homeless and veterans.
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