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| GEST3037-1 | Financing a social enterprise
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| Duration : | 30h Th |
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| Credits/ECTS : |
| Master in Management Sciences, in-depth approach, 1st year | | Second semester | | 5 |
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| Master in Management Sciences, didactic approach, 1st year | | Second semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en banking and asset management, 1st year | | Second semester | | 5 |
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| Master in Management Sciences, professional Focus in Entrepreneurship, 1st year | | Second semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en financial analysis and audit, 1st year | | Second semester | | 5 |
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| Master in Management Sciences, professional Focus, 1st year | | Second semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en management humain et organisation, 1st year | | Second semester | | 5 |
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| Master in management Sciences, professional focus in management, 1st year | | Second semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en management des entreprises sociales, 1st year | | Second semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en intelligence stratégique et marketing, 1st year | | Second semester | | 5 |
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| Holder(s) : | Sybille Mertens de Wilmars |
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| Language : | French language |
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| Course contents : | The financing of social entreprises, conditions the development of their activities and the achievement of their goals. Generally, social enterprises face the same financing needs that conventional firms. They, however, have to face specific difficulties in access to resources (need for partial non-market resources, difficulty of raising capital, incompatibility of certain modes of financing their purpose). Conversely, they have privileged access to certain sources of funding (public funding, philanthropy, socially responsible investing). By linking the funding arrangements for capital gains generated by individual or collective social enterprise, this course offers students the opportunity to become familiar with major sources of financing of social enterprises while developing their capacity to utilize it. |
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| Course objective : | - To understand the economic rationality of different methods of financing social enterprises,
- To acquire a thorough knowledge of operational modes of financing (public financing, pricing, fund-raising),
- To develop the ability to exercise management control in social enterprise,
- To develop the ability to design and implement the financing mix in the context of developing a business plan for social enterprise. |
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| Prerequisites : | - An introductory course of social economy and, if possible, a course on public economics and an introductory course in entrepreneurship. |
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| Organization : | The course is structured in three parts. In the first part, theoretical presentations discover the theoretical framework of the financing mix. In the second part, students are invited to explore the various sources of funding for social enterprises through workshops that bring together on thematic issues: teacher, manager of social enterprise and an expert. Finally, a third party invites the student to acquire the tools to apply knowledge of alternative financing in a dual perspective: management control and developing a business plan for social enterprise. |
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| Written notes : | The course is based on two reference works:
- Young, D. (2007), Financing nonprofits, Putting Theory Into Practice, Altamira Press, Lanham.
- Mertens, S. (2010), La gestion des entreprises sociales, EdiPro, Liège.
Ppt presentations of the various sessions will be posted on the interface Lol @.
A selected bibliography is provided for each topic in the course. The articles and reference books available at the Documentation Center of CIRIEC (Building B33, 2nd floor).
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| Assessment : | The evaluation will combine two elements:
- The development by a group of two students of a business plan (50% of overall score). This work will be submitted to the contest "Feasibility study of social enterprises" in the project Impulcera (www.impulcera.be). The best projects will participate in an international competition.
- A written examination (50% of overall score).
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| Contacts : | Sybille Mertens
Cera Chair- Center for Social Economy
HEC-Management School - University of Liège - B33/box 4 - 4000 Liège
Tel : + 32(0) 4 366 27 51 - smertens@ulg.ac.be |
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