The Co-operative Economy - Professor John Arnold

Listen to Professor John Arnold present the state of the UK co-operative economy and the results of the Co-operative Business Confidence Survey at Co-operatives 2010.

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Our analysis shows that there are over 4,990 independent co-operatives in the UK owned by more than 12.9 million members. The numbers keep on growing.

These are organisations owned by their members who work together to meet the common needs. Across the UK, in all parts of the economy, from healthcare to housing, farms to football clubs, credit unions to convenience stores, they share ownership, have equal say, make democratic decisions and create value for their members.

Because co-operatives are member-owned, they are generally not subject to stock market listing. Unlike the situation for PLCs, teams of analysts are not employed to study their performance and the financial press often omits to report their results. As a consequence there has been a tendency to marginalise the role of the sector. Even co-operatives themselves perhaps fail to appreciate fully their significance in the economy.This is why we have compiled an annual review every year since 2007, drawing on published accounts from co-operatives over the previous financial year.