What is a

#cooperative #startup #businessstructure #cooperatives #co-ops
What is a Cooperative Business, what does it take to actually start a co-op and who can run a co-operative business are key questions to address before opting for this business model. Depending on your business a cooperative might be the ideal way to move forward.
Lesson Summary:
A cooperative is a business owned and run jointly by its members, which seek a mutual benefit. Cooperatives differ from other forms of businesses because they operate more for the benefit of members, rather than to earn profits for investors.
Why join a cooperative?
The advantages of being part of such a business are that profits are shared equally among members, all the members contribute to the running of the business by sharing rights and responsibilities and all members have a say within the organization through their vote.
How does it work?
Co-ops are organized to provide power against the competition, improve bargaining power, reduce costs, expand new and existing market opportunities. In agriculture, for example, members benefit from better prices when they purchase seeds and other materials because they buy in bulk, ergo they benefit from economies of scale. Once they decide to sell their crop together again, they will be able to bring to the table a better price as a result of their volume.
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