Russian government endorses social business bill
MOSCOW, December 27 (RAPSI) – Russian government has endorsed a bill on legislative regulation of socially responsible business.
The draft law will be forwarded to the State Duma for hearing in accordance with the applicable procedure, a statement of the Cabinet of Ministers reads.
Social entrepreneurship has been flourished in recent years. However, there is no uniformity of the social business concept interpretation in current legislation.
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%.