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Meg Munn MP - Sheffield Heeley's voice in Parliament | Welcome
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The growing co-operative business model

Tuesday, August 6, 2013

The co-operative business sector is growing but many people do not understand its strength and the reasons for its success. A new campaign has been launched to promote the co-operative business model, focusing on its resilience, productivity, being competitive and aiming to make a profit.  Co-operatives are strong in areas such as business growth, product innovation and financial resilience.

The campaign calls on anyone advising existing businesses, and existing and potential entrepreneurs, to be aware of the co-operative option its advantages and track record. Amongst those the campaign will try to reach are teachers, lecturers, chambers of commerce and professional business advisors.

Meg commented:

“The co-operative and mutual business models have a lot going for them and I welcome this new campaign to promote them as widely as possible. I am a strong supporter of the co-operative way of working; I think a democratically owned organisation can achieve more for society in the long run than the ‘get rich quick’ way of life.”

Ed Mayo, Secretary General of Co-operativeUK said:

“In terms of financial resilience the evidence from Co-operativesUK is if you compare co-operative start-ups to business at large, you’re much more likely to survive and succeed if you’re a co-op.”

For further details visit: http://www.uk.coop/option

Key facts from the campaign

         Growth co-operative business turnover is more than 35 billion a year, growing 20% since 2008.

         Trust 52% of people who expressed a view described co-operative businesses as trusted, compared to just 7% for PLCs.

         Productivity over a four year period employees of worker-owned businesses increased their productivity by 33%, compared to 17% for conventional businesses.

         Innovation co-operatives include employees and customers as members, encouraging ideas to improve the business flower.

         Resilience only 65% of conventional businesses survive the first three years of their existence, over 90% of co-operatives stay in operation. 

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