*Special Officer, Visvesvaraya Technological University, Belagavi, Karnataka
**Professor, Basaveshvara Engineering College, Bagalkot, Karnataka
Online published on 24 October, 2019.
Social Enterprises in India are functioning in a loose fashion without much recognition. In India we don‟t have any specific policy at centre and state level for supporting Social Entrepreneurs. At present SEs in India are registered under Indian Trust Act 1882, Societies Registration Act 1860, Section-8 Company under Companies Act 2013, Special Licensing etc. This paper is aimed at understanding the need of an exclusive SE policy in India. This paper examines the prevailing state of relevant polices related to SE in India. The paper attempts to compare the SE ecosystems in terms of polices with India and countries like USA & UK. Few countries like the USA and the UK have got plenty of flexibilities and option in terms of legally structuring a social enterprise. USA have got few legal structures which are designed keeping in mind the special needs of a social enterprise. They are Low Profit Limited Liability company (L3C), Benefit Corporations, Certified Benefit Corporations (B Corps) and Flexible Purpose Corporations. The paper found that's there is a significant need and demand from Social Entrepreneurs across India for an exclusive SE policy. Hence the paper lays the foundation of recommending an exclusive SE policy in India.
Social Entrepreneurship, Policy, SE Ecosystems, Government, India, Low Profit Limited Liability Company, Benefit Corporation, Certified Benefit Corporation, Flexible Purpose Corporationetc
