“…The social economy, and social enterprise, is recognised as a growing part of local economies and an increasingly important feature of public policy. There are two overlapping approaches to distinguishing the social economy: normative-as a set of economic activities with a social remit practicing particular values (Amin et al 2002;Laville 2009), and legalistic-as a set of organisations with particular legal frameworks (not for personal profit, value driven) (Defourny 2001;Smith and Teasdale 2012). In the UK context, Pearce (2003, p. 29) conceptualises the social economy in a legalistic sense, to include social and community enterprises, building societies, charity trading arms, consumer retail societies, credit unions, fair-trade companies, housing associations, intermediate labour market companies, local exchange trading schemes, marketing cooperatives, mutual cooperative companies, social firms, time banks, voluntary enterprises and workers' cooperatives, while excluding non-trading entities.…”