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“A co-operative revival is underway” Financial Times, 2013. Contributing to the UK economy. Turnover £36.7 bn Number of co-operatives 6,169 Number of memberships 15.4 m. What is a co-operative business?.
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“A co-operative revival is underway” Financial Times, 2013
Contributing to the UK economy Turnover £36.7 bn Number of co-operatives 6,169 Number of memberships 15.4 m
What is a co-operative business? Co-operatives are businesses. Like any other businesses, they aim to be productive and competitive and are focused on making a profit. Where co-operatives are unique is that they are owned and democratically controlled by members not outside investors.
The business case Business growth The co-operative business sector has grown by 23% since the start of the credit crunch.
The business case Employee productivity Employees of worker owned businesses are nearly twice as productive as employees of conventional businesses.
The business case Consumer trust 52% of people who expressed a view, described co-operative businesses as trusted, compared to just 7% for PLCs. The top three words used to describe co-operatives were ‘Fair’ (65%), ‘Democratic’ (58%) and ‘Trusted’ (52%).
The business case Financial resilience Over 90% of co-operatives are in business after three years, compared to 65% of all businesses.
The business case Product innovation As member owned businesses, co-operatives integrate the ideas of employees and customers, the best source of new business ideas.
CASE STUDY Co-operative Energy Main business Gas and Electricity Retailer Annual turnover £45m (2012–3) Turnover was £7m in 2011–2. Anticipated turnover £150m (2013–4) Number of employees 170
CASE STUDY West Highland Free Press Main business Publishing a weekly newspaper for the Scottish western Highlands and Islands Annual turnover Approaching £1m Number of employees 15
CASE STUDY Anglia Farmers Main business Sourcing of agricultural inputs Annual turnover £231m Number of employees 115
CASE STUDY The Wine Society Main business Sourcing and purchase of wines, delivered by mail order to members Annual turnover Turnover averages around £70m a year Number of employees 209
CASE STUDY Nisa Main business Support services for independent retail businesses Annual turnover £1,579m Number of employees 290
CASE STUDY Delta-T Devices Main business Design and manufacture of specialised instruments for environmental science Annual turnover £3.5m Number of employees 38
Learn more about co-operative businesses Get technical advice on specialist business support www.uk.coop/option