Guide: Start a co-operative

Equip your co-op

You’ve created your co-operative and are about to begin trading.  Here are our top 10 tips on things a new co‑operative needs to know:


  1. Set up a bank account in the co‑operative's name. Get a free account from the Co-operative Bank.
  2. Know your registrar. Information for companies can be found at Companies House. Information for societies can be found at the Financial Conduct Authority.
  3. Directors and other officers, including the Secretary, of your co‑operative play a particular role in the governance of your co-operative and have particular responsibilities.
  4. Appoint an auditor or independent examiner if required in the governing document of your co‑operative. Know the requirements for your co‑operative company or society.
  5. Consider if you need to appoint additional directors to your co‑operative.
  6. Organise your co‑operative’s stationery and ensure that your corporate details are displayed correctly.
  7. Get to grips with your co‑operative’s governance administration. Ensure that you set up and maintain statutory registers for your co‑operative e.g. register of members, register of directors, share register etc. 
  8. Consider insurance for your co‑operative. Get a great offer from Co-operative Insurance.
  9. Consider your co‑operative's web presence and domain names. Stand out from the crowd, get a .coop domain name for your co-operative.
  10. Map out your co‑operative and governance year e.g. know your financial year end, when to hold your AGM and file your annual return and accounts.