BGL BNP Paribas and Mikado are launching My Com For Impact 2024. This competition is aimed at entrepreneurs and companies in the Social and Solidarity Economy who want to showcase their activity with a positive impact on society and/or the environment.
Are you involved in the social and solidarity economy? Now is your chance to shine a spotlight on your activity. From 24 October 2023 to 21 January 2024, BGL BNP Paribas and the communications agency Mikado are launching the competition My Com For Impact. The winning company will benefit from financial and human support to give new momentum to its public relations and highlight its commitment to a more sustainable and inclusive world.
The competition is open to entities in the social and solidarity economy, such as societal impact companies (SIS), cooperatives, or associations with a commercial activity. "We are also accepting applications from individual entrepreneurs and traditional companies. The guiding principle is that for these participants, their business activity is centred on humanity and social or environmental objectives, whatever the legal form of the structures that support them," explained Eliane Thines, Head of Communications at BGL BNP Paribas. "One of the selection criteria is that the entity must have been in existence for at least a year, and that it markets an innovative product or service in the field of the Social and Solidarity Economy (SSE) with a social or environmental impact, at regional, national, or international level."
In Luxembourg, the SSE sector is enjoying a time of significant growth. In 2020, it accounted for over 15,000 jobs spread across 2,135 entities, representing 4% of the workforce and 2.2% of national gross added value. Every day, those working in the social and solidarity economy offer their goods and services in a wide range of fields. According to the data available on the Social and Solidarity Economy Portal, 47% of them work in the field of social action, 23% in the health care sector, 8% in education, and 22% in other sectors such as culture, sport, or the environment. The vast majority (76%) carry out their activities in the form of non-profit associations that can count on the support of more than 67,000 volunteers who devote more than 15 million working hours per year...*
The importance of "enterprises" in the social and solidarity economy is now recognised both in Europe and internationally. Those committed to the social and solidarity economy want to emphasise the values of cooperation, mutual aid, and sustainability. "As a bank, it's important for us to have a good understanding of the specific needs of these entities, which, above and beyond their financial and economic growth, most importantly are seeking to have a positive impact," Eliane Thines pointed out.
"The goal of My Com For Impact is to enable an entity in the social and solidarity economy to benefit from a tailor-made service to boost its positive impact through the implementation of communication initiatives," the Head of Communications continued. "In addition to this initiative, BGL BNP Paribas has been providing support to companies for the past four years through its Act for Impact programme." The strategic objective of BGL BNP Paribas and the BNP Paribas Group as a whole is to promote, support, and finance these entities as effectively as possible by training their advisors in these issues and by putting appropriate banking and non-banking approaches into effect.
At the end of January 2024, a selection committee will examine all the entries received for this competition and select five finalists, who will then be invited to meet the final panel of judges for a presentation pitch. These five entities will be invited to the big closing evening in March, where they will be able to present themselves to a large audience. The overall winner, whose name will be announced at this final event, will be offered financial and human support to develop its communications. "These enterprises working in the social and solidarity economy devote a great deal of energy to developing their project and building a solid business plan. Communications is an area they often overlook or activate tardily, due to a lack of time and, often, a lack of budget. But communication is a real engine of growth and a very important means of boosting brand awareness for these entities. With this competition, we want to offer the winner the key to switch on this engine," explained Vanessa Buquet, managing partner of the Mikado agency.
Mikado, a communications consultancy that is itself strongly committed to more sustainable communications, is now urging its clients to incorporate ESG criteria into their communications strategy. "We will be devoting all our expertise and local experience to support the winner in its overall communications strategy, particularly in terms of CSR," Vanessa Buquet added. "This will include ensuring that the communications strategy put in place resonates with the winner's values, mission, and identity. Our role will be to clearly define the objectives to be achieved, to prioritise them, and to implement a comprehensive strategy in order to increase the winner’s visibility, taking into account what has already been undertaken. We will then define and develop the actions to be taken and work on the communication tools to be prioritised: corporate identity, website, digital integration strategy, advertising campaign, etc."
For its part, BGL BNP Paribas is also committed to providing its support and expertise in social and environmental entrepreneurship. "For these entities, impact is just as important as the financial aspect, so it is important to be able to calculate and monitor it over time. This is why, in addition to their communications and traditional financial needs, the bank is keen to support its clients in their efforts to measure their impact," Eliane Thines went on to emphasise. "We help them to document this with the use of the right indicators and measurements. And lastly, for SSE actors, it is essential to be part of a local ecosystem of partners who specialise in the sector and can help in a number of areas."
Through this competition, BGL BNP Paribas and Mikado wish to contribute in their own way to the emergence of an economy that places greater value on society and its environment. This sector is set to grow in the years ahead, driven chiefly by people who seek meaning both in their work and on a personal level. Increasingly, they are opting to buy local products and services that have a positive, inspirational social and environmental impact.
To enter the competition, go to: bgl.lu/en/mycomforimpact
For more information about Act For Impact, please visit the website Act for Impact | BGL BNP Paribas
*Source: Social and Solidarity Economy Portal (Key figures - Social and Solidarity Economy Gateway – Luxembourg (public.lu))
