A cooperative, or co-op, is a member-owned and member-controlled business that operates for the benefit of its members; those who use its products, supplies and/or services. Cooperatives can vary in their purpose but share in that they are formed to meet the specific objectives of members and adapt to member’s changing needs. Values like self-reliance and self-help are the hallmark of cooperatives.

Everyone who owns a share in a co-op has a need for the products and services offered. The motivation is utilitarian, not for financial gain. Members democratically decide the direction and operations. A co-op aims to deliver the greatest benefit to all of its members.

The cooperative as a form of business organization began during the Industrial Revolution. Cooperatives promoted the interests of the less powerful members of society. Workers, consumers, farmers, artisans and others found that they could accomplish more by combining their resources and working together.

Since the first modern co-op was established in the U.S. in 1844, millions of employees, consumers, and service providers have started their own cooperative businesses to take ownership of their economic well-being. Find out how co-ops operate and how they continue to pave the way for a brighter, more connected future.

References

1. General Co-ops, cccd.coop

Tags

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Notes

• A Technology Freelancer's Guide To Starting A Worker's Cooperative

  • Shared with me by Nick Barone in the One, Inc. channel of Citizens of One