Sustainability Challenges and Opportunities for Social Enterprises in Romania: A Multidimensional Analysis

Over the last two decades, social enterprises in Romania have taken on an increasingly important role in the production and provision of social goods and services for vulnerable groups. Although forms of the social economy have long existed in Romanian society, sustainability remains a constant concern, particularly in the context of dependence on European Union structural funds. This study identifies the multidimensional factors influencing the sustainability of social enterprises in Romania, combining a quantitative analysis of 121 certified social enterprises from the National Register (2016–2022) with qualitative case studies of 15 selected organisations. Revenue diversification significantly contributed to financial sustainability (β = −0.28, p < 0.01), whilst high dependence on EU funding (>50% of revenue) negatively affected long-term viability (HR = 2.18, p = 0.002). Participation in networks increased three-year survival rates from 69.8% to 87.2%. Six key sustainability strategies were identified: hybrid revenue models, integration into the value chain, community inclusion, adaptive leadership, strategic partnerships, and effective communication of results and impact. The findings confirm the absence of an integrated support framework for the sustainable activities of the social economy and, in some cases, the limited capacity of public institutions to support vulnerable groups. Policy recommendations include phased funding mechanisms, transitional support instruments and the systematic development of regional ecosystems.