Thirty billion euros is what we call solidarity savings today in France, a specific type of savings that is increasingly appealing to the French. More than 150,000 companies in France integrate the ESS, the social and solidarity economy.
:quality(50)/2024/03/04/emmanuel-cugny-65e6021ef3340792811771.png)
Published
Update
Reading time: 2 mins
:quality(50)/2024/06/20/billets-de-banque-6673cdad60dba172788222.jpg)
Solidarity saving consists of investing money in projects of a social or environmental nature. According to a study published Wednesday, June 19, by the daily The cross with the FAIR association, this savings increased by 15% over the year, between 2022 and 2023. It is very useful on a daily basis, because it fuels an entire ecosystem. Based on the principle of solidarity and social utility, the solidarity economy makes it possible to launch projects or initiatives before benefiting from bank loans, investor financing, etc.
Some find themselves closed to banking networks under the pretext that their economic model is too fragile. This is when solidarity finance can intervene. This could be, for example, a craftsman who employs a person in integration or who has a project with people with disabilities. The money is also used to support access to housing, employment or the development of renewable energies.
It is estimated that around 165,000 companies are now integrating the ESS (social and solidarity economy), which concerns nearly two and a half million employees. In total, this represents 10% of our GDP, the national wealth produced by France, or some 280 billion euros.
Solidarity savers do not hesitate to support sometimes atypical projects, which makes it possible to prime the financing pump where the traditional circuit often requires significant guarantees. Be careful not to confuse it with “crowdfunding” (participatory financing). Solidarity finance is an investment. Not risky, of course. There is no immediate search for profit, much less pressure from shareholders.
