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France Active at the Europan Social Economy Summit in may : Save the date !

France Active will host 2 online sessions alongside European stakeholders on May 27th at the European Social Economy Summit.

The European Social Economy Summit (EUSES) is a jointly organized digital conference by the European Commission and the City of Mannheim. The conference aims at strengthening the social economy in Europe and harness its contribution to economic development, social inclusion as well as green and digital transitions.

> a 90-minute session on promoting the way in which multi-stakeholder collaboration allows social finance to meet the needs of social enterprises, alongside:

• Center for Social Investment (CSI), Germany
  Center for Social Investment is a multi-disciplinary research center attached to Heidelberg University.
• Finansol, France
  Finansol is the French network of actors involved in solidarity-based finance.
• Inpulse, Belgium, Poland and France
  Inpulse is an investment manager with special know-how on social investments and microfinance based in Belgium, Poland and France active throughout Europe and the MENA region.
• Socialni Inovatori, Slovakia
  Socialni Inovatori is a private Slovakian social bank investing in social entrepreneurship and social innovation.

This session aims at promoting the way in which multi-stakeholder collaboration allows social finance to meet the needs of social enterprises. In bringing together investors, citizens, national and European public authorities and social enterprises, social finance represents a model of cooperation around a common goal: fulfilling the SDGs through social entrepreneurship.

> a 90-minute session on how Europe can boost the replication of social innovations on territories, alongside : 

• Ashoka Impact Transfer, Austria
  Impact Transfer is an initiative of Ashoka, which facilitates the cross-border replication and transfer of social/environmental innovations and makes them available where they are needed and demanded by local stakeholders.
• European Social Catalyst Fund, Ireland, Germany, Belgium
  The European Social Catalyst Fund (ESCF) is a new initiative which aims at bringing together public and private resources to improve social services to enable people who need support to live as valued and participating members of their communities.
• Simplon.co, France
  Simplon.co is a network of digital training centers offering free courses in digital professions that are currently in high demand, which seek to include those jobseekers who are underrepresented in the digital world. Since 2014, Simplon.co is going international and is currently located in 4 other European countries (Romania, Spain, Belgium, Switzerland).
• Supercoop, Germany
  SuperCoop Berlin aims to create a community-owned supermarket to provide high-quality and sustainable food at fair prices.

While paying attention to the stakes (cooperation, adaptation …) and to the support and funding needs at all stages of replication (conception, implementation …), the session aims at promoting the diversity of ways to replicate relevant social innovations, with a view to better address the social and environmental challenges Europe is facing.

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From emergency to restart

“To face the crisis and prepare the restart for tomorrow”: that’s the motto set out by France Active to help social entrepreneurs cope with the crisis. In this respect, France active mobilizes with its partners (such as the French Government, banks, public institutions, enterprises…) to offer entrepreneurs concrete solutions.

Only 2 months out of the economic shutdown set up to curb the Covid-19 pandemic in the country, it is hard to draw the first consequences of the crisis and to look at the situation objectively. Although there is not yet enough data available for an exhaustive analysis, France Active has identified general trends by looking closely at the enterprises in its portfolio since April.

• the most fragile enterprises are suffering the most: the one without equity and the one already having problems before the crisis; they often tend to be the small ones.
• the strongest enterprises are cushioning the blow of the crisis and are trying to do their best to overcome the crisis.

In view of the above, France Active has been working hard and in close collaboration with the banking sector, to shape and direct the support according to the diverse needs of the multitude entrepreneurs in its portfolio. For some of them, the issue is to tackle their lack of liquidity while at the same time preserving them from too high level of debt. For others, the priority is to face with unexpected costs and upheaval of their usual activity, which implies reviewing their short-term strategy and resorting to some of the measures implemented by the French government. Some sectors are also suffering more than the others, such as for instance: tourism, catering services, events, sport…

To these ends, France Active has developed a response for all these situations, with a twofold answer. As other financial organisations, France Active tried at first to respond to the urgency of the situation by helping to keep social businesses afloat during the pandemic. Thus, entrepreneurs benefitting of loans from France Active were proposed: suspension of repayment deadlines, on-demand delay of some maturities at the end of the loan, restructuring of the loans. Entrepreneurs benefitting of a loan guarantee from France Active were offered an extension of the maximum guarantee period in the event of rescheduling of the loan (up to 6 months). If the loan hadn’t been deducted yet, France Active also offered entrepreneurs a 3-month extension of their guarantee agreement. Secondly, the association worked on measures to support the restart of activity for the companies most committed in terms of social impact, employment and environment. Furthermore, with the support of the French High Commissioner for the Social and Solidarity Economy and Social Innovation and some private partners, France Active implemented a program to help small social organizations to cover operating expenses via a 5 000 € grant.

As part of this global response, France Active has also published on its website a toolbox, which it regularly updates, to inform on emergency measures undertaken by social economy actors. France Active is currently developing further its financial and non-financial support offer. By enabling access to a unique network of partners, France Active also helps entrepreneurs to raise other types of funding and to get relevant advice.

In addition to the measures established by the French government and major public actors, and in line with its strategic project and subsequent priorities, France Active has revised and developed its Turnaround Pact. As part of this revision, it has strengthened its focus on entrepreneurs who have difficulty accessing bank financing, as well as entrepreneurs who have based their project on social

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Young people want to be entrepreneurs, but they don’t want to do it alone!

France Active scales up its work with them, with an emphasis on social innovation.

Paris, 23 April 2019

What do French people think about business creation today? And, more specifically, how do 18-30 year olds see entrepreneurship? To answer these questions, France Active and OpinionWay consulted the French public and especially young people, whose attitudes to business creation are characterised by courage, realism and strong convictions. The results confirm the value of France Active’s work with business creators, and especially its development plan: accelerate the success of socially minded entrepreneurs.

• 42.5% of young people want to be entrepreneurs

Of the18-30 year olds surveyed, 42.5% expressed a desire to create their own business. More than half of young people are more interested in being entrepreneurs than employees. This is a response to concerns about boredom at work (43%).

Having said that, these young people are not ready to rush blindly into a business venture: 55% say they are reluctant to make the leap for financial reasons, 37% because of complex procedures. Only 20% fear an extremely large workload, which is far from the common perception of a disillusioned generation.

So what do they need to help them get started? For 78% of young people, the answer is clear: they would like a helping hand. This may be financing for their project (31%), the support of a professional network (21%), coaching (20%) or a bank loan (6%).

But this clarity is accompanied by a lack of vital information : 70% of 18-30 year olds say they do not know about the resources currently available to help them start a business. This figure rises to 76% among 25-30 year olds.

• Two drivers for entrepreneurs: fulfilling their potential and changing society

Why start a business? For 60% of young people, it is above all a way to change the world. For 30%, the preferred model is one in which all employees are decision-makers in a cooperative enterprise (SCOP – société cooperative de production), while 25% are focused projects linked to sustainable development or the environment. More than 20% would be prepared to start a business that could contribute to social cohesion and further the development of their region, while almost 20% would start a social project that combats poverty and exclusion.

This “socially committed” vision of entrepreneurship does not exclude individual ambition. When we asked 18-30 year olds about their personal reasons for wanting to start a business, one answer stood out: 59% thought it was a way to avoid being unemployed. After that came the concept of freedom (51%), the desire to create their own job as well as others (36%) and the prospect of earning money (36%).

These results align with what we hear from the young entrepreneurs we support,” says Pierre-René Lemas, President of France Active. “They want to change the world and fulfil their own potential. They all believe that it is possible to invest in a socially beneficial project while also making a profit! This is entirely in line with our approach: as a pillar in the field of solidarity finance, we promote this same concept of a social economy that is profitable, economically competitive and that supports job creation and regional development.”
When it comes to the sector in which they would like to start up, young people have very diverse ambitions: the leisure, sport and culture sector tops the list (16%), followed by IT (10%), and the rest of the projects are extremely varied, with crafts coming in third (7%) and environmental projects in sixth position.

• To meet these needs, France Active is scaling up its work with young people

Against this background, France Active, France’s leader in the field of solidarity finance, is reinforcing its support for young people in two ways (in 2018 17% of business creators were under 26 years old and one-third were under 30).

By supporting entrepreneurs who have the most difficulty accessing bank services:

Inherently socially minded, France Active’s 2019 strategy will prioritise people who have the greatest difficulty in securing financing. Young people are central to this priority, especially those who are developing their project in the most vulnerable regions.
In 2018, 20% of projects supported were located in high-priority urban or rural regeneration areas. This regional targeting increased by 6% in the first quarter of 2019.

Another priority for its activities is highly vulnerable people (long-term unemployed or those eligible for only minimal benefits) who want to grow their business. In the first quarter, they made up 36% of the businesses supported, already 3% more than in 2018.

By ramping up support for SSE companies

Entrepreneurs in the SSE field receive support from France Active in every phase of their project.

In 2019, France Active is ramping up its support, especially for young people, in two key phases :

• Seed stage, with the launch of “Place de l’émergence”, a new programme allowing young business creators to assess the feasibility of their project and bringing together financial partners. These future entrepreneurs will receive tailored support and mentoring from an established social entrepreneur. From September on, “Place de l’émergence” will multiply the impact of the current trust fund (more than 100 projects every year).
• Early stages, a key period in business creation requiring a search for financing. France Active has expertise in financial risk management, advice and creating connections between stakeholders who want to develop innovative projects that benefit society. In 2019, France Active is intensifying the efforts of its 42 regional associations to identify stakeholders wishing to get involved in promoting social cohesion, employment and environmental sustainability.

“Very few structures operate in the seed and early creation stages. This is a unique strength of France Active,” explains Pierre-René Lemas. “It is even more relevant for SSE companies whose ambitions span both social awareness and economic performance. Our support enables them to address unmet needs and offer concrete solutions to the great societal challenges that we must all face together.”

Download the press release – Available in french

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SSE growth pact: a place for France Active

04 Déc 2018
>
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A wave of optimism among entrepreneurs financed by France Active!

12 Déc 2018
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France Active, a driver for employment and the Social and Solidarity

15 Fév 2019
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France Active, a driver for employment and the Social and Solidarity Economy, with 7,500 companies supported in 2018

Paris, 15 February 2019

Entrepreneurship and social cohesion

A review of France Active’s activities in 2018 clearly demonstrates its profound social commitment and the contribution it has made to the rise of socially minded entrepreneurs.

The “social” aspect is evident in the entrepreneurs it has supported in the start-up phase: 90% of those supported were unemployed, one-third of whom were classed unemployed or eligible only for minimum benefits. And “commitment” is reflected in the growing number of these entrepreneurs who seek to create social or environmental impact through their project. This makes France Active the leading finance-provider for the Social and Solidarity Economy.

Almost 7,500 companies were created in 2018 thanks to the its support, resulting in the creation or preservation of 40,000 jobs across all regions. In total, 306 million euros were raised in the form of guaranteed bank loans, investments, solidarity loans and grants.

Contributing to business creation and employment

With nearly 7,500 companies supported in 2018, France Active confirms its position as the leading solidarity finance-provider. For companies just starting out, 90% of entrepreneurs were unemployed, with one-third of them classed long-term unemployed or eligible only for minimum benefits. Holding fewer diplomas than France’s other entrepreneurs, 57% had only a school-leaver certificate (baccalauréat, equivalent to the UK’s A-levels) or a low-level diploma. Almost 30% of them are under 30 years old, and 20% are developing their project in difficult areas (government-identified priority zones and rural areas). Half of all projects supported by France Active are managed by women. The overall result is a positive social and societal footprint for the economy since these socially minded entrepreneurs created or maintained 40,000 jobs. For more information, see the complete France Active impact study (available in french).

Facilitating access to bank financing for everyone: France Active’s guarantee

Keen to facilitate access to bank financing, France Active has launched and implemented a new guarantee offer to help clear obstacles from the path of those who might have the most difficulty securing loans, such as the long-term unemployed, young people, women, and people living or setting up a business within disadvantaged regions.

Entrepreneurs can now benefit from a bank loan guarantee of up to 80% of the borrowed amount. In return, banks do not demand entrepreneurs be personally liable. This deal was struck with banks and public finance-providers (the EU, countries with Social Cohesion Funds and local authorities), convinced of the socially transformative role of entrepreneurship.

This kind of hybrid financing gives everyone the same chance of succeeding and offers entrepreneurs the opportunity to develop the economy of their area and contribute to social cohesion. With €255 million raised in 2018 through bank loan guarantees, last year France Active secured financing for nearly 5,500 entrepreneur projects.

Entrusted to France Active Garantie, the Social Cohesion Fund also guarantees micro-loans granted to entrepreneurs who are excluded from the banking system, particularly those issued by the Association for the Right to Business Initiative (Association pour le droit à l’initiative économique – l’Adie).

This action to promote the creation of new businesses is consistent with the new direction Bpifrance has been given by the French government. Alongside the European Investment Fund, Bpifrance has long been a partner of France Active, guaranteeing part of its activity. Bpifrance is to increase its support for the network’s activities throughout 2019.

The aim : to finance companies during start-up

France Active is one of France’s leading finance-providers for socially conscious companies. Of the 1,355 Social and Solidarity Economy organisations funded in 2018, 36% were starting up or in the early phase of creation – the riskiest phases in the life of an SSE business. Known for its ability to advise and support these companies, France Active promotes social innovation and offers opportunities to the major SSE stakeholders of the future. In terms of sustainability and economic performance, a 2014-2018 impact study of the 5,771 companies or associations supported in 2014 shows the real results of socially conscious companies. Four out of five entrepreneurs are still active three years after receiving funding; 10% more than the national average! Their job creation rate is also twice the national average. Read the study (available in french)

The social mission of companies financed by France Active Investissement

“These results prove that finance can, and must, benefit society,” comments Pierre-René Lemas, President of France Active. “We can create value by addressing unmet social and regional needs. This is France Active’s mission: to give finance a transformative role, offering each entrepreneur the means to be part of the major transitions we are experiencing. This is a new path for the finance industry, in line with the expectations of society as a whole.”

Download the press release – Available in french

Press release

Social economy growth pact: a place for France Active

04 Déc 2018
>
Press releases

A wave of optimism among entrepreneurs financed by France Active!

12 Déc 2018
>
Press releases

Young people want to be entrepreneurs, but they don’t want to do it alone!

23 Avr 2019
>
Press releases

A wave of optimism among entrepreneurs financed by France Active!

Paris, 12 December 2018

Results of a major study assessing our impact on socially-committed entrepreneurs

France Active, the movement of socially-committed entrepreneurs, has been a pioneer in the field of solidarity finance for 30 years. Every two years, it evaluates the impact of its involvement on the success of projects financed three years previously. This major study, conducted in May 2018 by TMO Régions, covers 5,771 companies and associations supported in 2014, 708 of which took part in a telephone survey. It provides information on the background of the entrepreneurs supported, the sustainability of their project and their capacity to grow and create jobs.

Very encouraging results showing momentum that
far exceeds the national average
in terms of job creation and economic performance

Job creation double the national average

Figures on the creation and uptake of jobs supported by France Active show a particularly strong dynamic in job creation. In fact, having launched their business with on average 2.1 employees (compared to the national average of 1.9), these companies were employing, on average, 4.5 people three years later, compared to a national average of 2.9, showing growth of 114% compared to the national average of 52%.

It is worth noting that this growth occurred primarily in the creation of permanent contracts (45% of employees signed permanent contracts in 2018, a figure which has tripled in three years). In total, companies supported by France Active in 2014 had 38,600 employees on their payrolls in May 2018, bringing the estimated net total of posts created to 19,500.

Survival rate after four years 10% above the national average

Of the companies created, 79% are still in business after three years, 8% more than the national average. The survival rate after four years is 74%, (10% higher than the average).
The comprehensive and tailored support France Active provides to socially-committed entrepreneurs (through advice, financing and networking) has proven particularly effective: it has allowed 40% of business creators to bring their projects to fruition, as well as 58% of those developing their projects.
Lastly, these entrepreneurs are particularly optimistic about their future, with eight out of ten saying they are satisfied with their last project, around one in two wishing to grow their business and one-third planning to take on more staff!

Do these entrepreneurs have a magic formula? The human values that underpin these companies, and the meaning they find in their professional commitment are undoubtedly the keys to their long-term success and their optimism.
All they need to spark their success is a helping hand from France Active, which gives them access to financing and supports them throughout the different stages of their entrepreneurial journey.

Pierre-René Lemas, President of France Active explains, “One of our main goals is to open up entrepreneurship opportunities for the most vulnerable, especially young people who are unemployed or in insecure situations, and women, who are often discriminated against when it comes to access to employment. We also try to help those who are starting out in vulnerable regions, in both inner city and rural areas. I am proud to see that we have come a long way towards achieving this goal, and, above all, that these socially-committed entrepreneurs are growing faster than the average and creating value and high quality jobs!”

Download the press release – Available in french

Press release

SSE growth pact: a place for France Active

04 Déc 2018
>
Press releases

A wave of optimism among entrepreneurs financed by France Active!

12 Déc 2018
>
Press releases

Young people want to be entrepreneurs, but they don’t want to do it alone!

23 Avr 2019
>
Press releases