Luxembourg adopts a standard definition of the social economy as well as of the companies that comprise it. Creating a status of societal impact society (SIS) not only provides greater legal certainty to companies with a social or societal purpose, it also offers them greater visibility. The new status of societal impact society (SIS) entails, beyond the purely operational benefits, official recognition of the specificity and the social utility of social entrepreneurs and organizations from the social and solidarity economy. The status of societal impact society (SIS) comes with obligations in terms of transparency and governance. Through the requirement for … Continue reading →