Stephan Gstöhl from digihub.li recently took part in the Swiss Social Economy Forum (SSEF) 2024 in Solothurn, a major event dedicated to promoting and discussing the social economy. International players such as Perrine de le Court from Ashoka and national figures such as National Councillor Gerhard Andrey and Nik Gugger were also present and contributed their perspectives.

A number of projects were presented at the forum. These include the Kreuz, the oldest cooperative in Switzerland, which is active in the fields of gastronomy and culture and is a successful example of social entrepreneurship. Another notable project is the Theresiahaus Foundation's first inclusive hotel, which serves as a model for social innovation and inclusion.

The forum impressively illustrated the need for clear framework conditions, support services and possibly a new legal form for companies that are prepared to take on social and ecological responsibility. A key topic was the financing of social enterprises and impact investing, which was identified as the biggest challenge.

The challenges and opportunities of the social economy

Social economy was highlighted as the most important lever to promote the Sustainable Development Goals (SDGs), environmental, social and governance (ESG) standards and sustainable development. It was emphasized that sustainable impact is more important than shareholder value. There is a need for clear definitions and a new understanding of entrepreneurship that emphasizes the social obligation of companies.

Small and medium-sized enterprises in particular play a decisive role as suppliers for large companies and corporations. Pioneers are needed here who can show that impact-oriented entrepreneurship represents a real competitive advantage today. Companies that do not pursue sustainable practices are under increasing pressure, as sustainability is increasingly seen as a matter of course rather than an exception.

In this context, the People and Planet First verification, a certification program run by SENSSuisse, was mentioned. This program aims to identify and reward companies that meet high standards of social and environmental responsibility. The verification ensures that the certified companies not only strive for economic success but also actively work to achieve a positive and ecological impact.

The role of public administration and politics

Public administration and municipalities were highlighted as important actors to develop and initiate pilot projects together. Politics and administration are essential in order to create an ecosystem for more sustainability. Liechtenstein's small size offers the opportunity to lead the way and implement innovative models more quickly.

Important topics for the future of the impact-oriented economy in Liechtenstein

One of the most exciting developments is the discussion about new legal forms and support services for impact-oriented entrepreneurship. The question arises as to how sustainable and regional production can be promoted in Liechtenstein, how local value creation can be increased and how investment opportunities can be created through new financial products.

Another focus is on how small and medium-sized enterprises can be made fit for the SDGs, ESG standards and the Supply Chain Act. Strengthening Liechtenstein as a foundation location through impact investing and innovative funding models will also be a central component of future efforts.

These issues must be tackled together in order to make Liechtenstein a pioneer for sustainable and impact-oriented entrepreneurship.

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