Cooperatives

What are they?

In brief, a Co-operative is a method of structuring a group of like minded individuals with a shared interest or goal. A Co-operative adopts the seven principles of the International Co-operative Alliance and is owned and controlled by its members. The members can be its customers, employees, residents or suppliers. Any profits made are either re-invested into the business or shared between people who have a say in how the Co-op is run, usually referred to as members.

A Co-op is a business or organisation that is democratically owned and controlled by its members, to meet their shared needs. The members can be its customers, employees, residents or suppliers, who have a say in how the Co-op is run.

Every Cooperative must share these 7 Principles;

1. A Co-op is owned and controlled by its members. It exists for the benefit of its members who may be customers, workers, suppliers or the wider community.

2. A Co-op is democratic- this means that every member has an equal say in how it is run and how profits are used.

3. Every member contributes financially in some way- from buying products, working for the co-op, investing in it, or deciding how to spend its profits.

4. A co-op is an independent business, owned and controlled by its members.

5. It offers education and training to everyone involved, so they can develop the co-op and promote the benefits of co-operation.

6. It co-operates, works with and supports other Co-operatives.

7. A co-op supports the communities it works with.

The Cooperative Values:

Caring for Others

Democracy

Equity

Equality

Honesty

Openness

Self Help

Self Responsibility

Solidarity

Social Responsibility