Young People and Entrepreneurship in Slovakia

Social entrepreneurship is supposed to be about investing in the people. In order to do so, there needs to be a whole system developed, from the policies that would be designed to strengthen human skills, building up capacities of all the players involved and supporting them to participate fully in employment and social life.

In order to support it, we can use the one the definition offered by one of the leading theorists, Jacques Defourny:
“…The social economy gathers enterprises of the co-operative movements, mutual benefit and insurance societies, foundations and all other types of non-profit organizations which all share some principles making them correspond to the “third sector” of modern economies. Social economy organisations differ from the private for-profit sector, as their primary goal is to serve members’ needs or a broader public interest instead of maximizing and distributing profits to shareholders or members. They are also clearly distinct from the public sector although non-profit organisations may receive public subsidies to fulfil their mission: they are self-governed private organisations with the rule ‘one member, one vote’ in their general assembly”

Slovakia is facing similar challenges, as the other parts of Europe, that is a high rate of youth unemployment, poverty especially in the regions and increasing gap between the urban and rural areas. Here is the biggest opportunity for social enterprises to strengthen peoples’ current and future capacities. At the same time, the social entrepreneurship skills, for youth, in particular, can improve their opportunities to participate in society and the labour market.

The concept of social entrepreneurship in Slovakia is at the beginning. However, there exist several initiatives in civil society at present that promote and support the idea of social economy and development of social enterprising.
What is essential for youth is the development of their soft skills, business planning and enterprising skills.

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