Impact businesses are those economic activities that seek to generate a positive impact at a social and environmental level without neglecting economic profitability. This approach originated in English-speaking countries (mainly the United Kingdom), however in recent years it has spread throughout the world as an example of a new economic model capable of meeting current demands for sustainable development. These businesses represent a way to meet public needs of a certain complexity and a certain cost that the public sector alone cannot always guarantee, with the participation of the private sector. In other words, it is a scheme in which collaboration between the public and private sector is advantageous for both sectors, while at the same time enabling the provision of public goods and offering a return for private investors. In recent years, the European Union Programme EUROsociAL+ has been assisting a number of public policy initiatives in Latin America that seek to promote the development of such activities while also supporting the formation of a Network of Latin American public institutions for the promotion of impact businesses.
Latin American Region · 13 September, 2021
