Just as the stockholders or shareholders of a business have a say in the ownership and operations of a company, the member-owners of a co-op have a say in how the cooperative operates. In the case of co-op housing, the people who live in a particular building are members of the cooperative that owns the building. In the case of a grocery co-op, the people who shop at the store are owner-members. The people who benefit from the products or services of a cooperative business own the cooperative business. One of those goals is to create a better world by working together and by shifting the focus of the business to place people over profit to build a more inclusive economy. People who join cooperatives or who are among the founding members of a co-op often have the same shared values, meaning they are willing to work together towards a common goal. Why are people who are members of a food co-op willing to volunteer or donate their time to work at the co-op? In part because of the community focus of a cooperative and the values behind co-ops. Some cooperatives are open to all, but provide special incentives to members, such as a discount on products or services. In some cases, only members of a cooperative can shop at it. For one thing, it’s likely that the people who are members of the cooperative, or part-owners of the co-op, are also working at the co-op, stocking the shelves and ringing customers up at the register.įor another thing, some cooperatives limit who can shop there or use their services. There will be aisles full of food and checkout registers where people can make their purchases.īut if you were to look more closely, or take a peek behind the scenes, you’d be likely to notice that the food co-op operates slightly differently from a typical grocery store. For example, if you were to visit a grocery store cooperative, it is very likely that it will look like any other grocery store. To an outsider, a cooperative might look very similar to any other type of corporation. The International Co-Operative Alliance defines a cooperative, or co-op, as “an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically controlled enterprise.” In other words, cooperatives are created by people who have a specific need and who are willing to work together to operate and organize a company that will meet that need. When the people who use the products and services a company has to offer own and operate the company, it’s known as a cooperative. Aside from the ownership structure, there are a few other distinct features that set cooperatives apart from other types of business. A company can incorporate, forming a corporation that is owned by fewer than 100 people (an S-corp) or hundreds or even thousands of people (a C-corp). When two or more people own a company, it’s often a partnership. When an individual owns and operates a company, it’s often a sole proprietorship. Who owns a business determines the type of entity it is. Diversity, Equity & Inclusion Trends in the Cooperative Community.ABCs of Farmer and Independent Small Business Co-op Impact.The Cooperative Economics Council (CEC).Strengthening Cooperatives And Producer Organizations.
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