Social & Solidarity Entrepreneurship What About the Responsible Finance Industry? Case of Moroccan Cooperatives

Abstract

This paper aims to present Social and solidarity entrepreneurship as a credible model for the emergence of new managerial practices for the solidarity economy companies (SSE, now). This model, especially in times of crises (Covid-19 health, economic, etc.) is an “alternative” to other forms of entrepreneurship specific to the traditional economy due to their double and sometimes triple ultimate goal - achieving financial, social and environmental goals. In recent years, innovative financing mechanisms such as guarantees, impact investing, Crowdfunding and complementary currencies have emerged to address these challenges and enable SSE organizations to thrive. Our study realized in between 2018-2019, on the various initiatives and financing mechanisms with a population of 390 Moroccan cooperatives in the Agadir SoussMassa region, underline that the financing mechanisms are diversified and presented on the one hand, a certain potential to create and preserve decent jobs, create wealth, reduce social inequalities and advance local development. On the other hand, results showed also a deficiency in the management and diversification of these modes of financing.