CICOPA Europe: worker co-operatives resilience in financial crisis

This is an update to a report in 2009; CICOPA initiated a consultation process amongst its members (Co-operatives UK is one) in order to gain a better idea of the effects of the finanical crisis on their affiliated organisations (Worker, Social and Artisan Co-operatives).

The report is attached, some of the conclusions were:

• The economic crisis, which is rooted in the financial system, has worsened the financial environment of worker and social cooperatives. Nevertheless, the direct impact is less severe for co-operatives from our network than for conventional enterprises, since they are able to rely on their own resources rather than being dependent on external financial resources.
• There have been some job cuts and the closure of a number of enterprises, even thoughthe total amount is lower than the corresponding figures for conventional enterprises active in the same sectors and on the same territories.
• Many cooperatives have maintained employment levels by reducing wages rather than cutting jobs or relocating their activities.