Russia’s lower house of parliament adopts social entrepreneurship bill
MOSCOW, July 11 (RAPSI) – A bill on legislative regulation of socially responsible business passed its third and final reading in the State Duma on Thursday.
Social entrepreneurship has been flourished in recent years. However, there is no uniformity of the social business concept interpretation in current legislation, according the Russian Cabinet of Ministers.
The bill proposes to register socially responsible business as a separate field of small and medium-sized business entities’ activity. The initiative also fixes a notion of Social Enterprises involving enterprises insuring employment for such social categories as disabled persons, parents with many minor children, pensioners and persons nearing retirement age. The interest of such employees must reach at least 50%.
In December, the initiative was endorsed by the Russian government.