Cooperatives –

A Key Component of the Social Economy

Abstract

Cooperatives are a cornerstone of the social economy, serving as a key driver in advancing
societal growth. Rooted in principles, values, and ethics that prioritise social welfare over
profit, cooperatives have seen continuous global growth. Today, one in seven people
worldwide is a member of at least one cooperative. Despite their strengths, cooperatives face
significant barriers in many countries, including the Republic of Moldova. Their nature, role
within the social economy, specific characteristics, impact on job creation, social inclusion,
and community development remain underappreciated. This article aims to highlight the
critical role of cooperatives within the social economy system, underscore their importance
in the contemporary socio-economic landscape, identify obstacles to their growth, and
propose actions for cooperative governance and public authorities to focus on. These steps
aim to ensure their future advancement and enhance their societal contributions.