The Co-op Economy
The Co-op Economy is the nation’s only comprehensive report on the UK’s co‑operative sector. It reveals turnover, membership and employee figures for co‑op businesses across the UK.
The Co-op Economy 2021 shows that co-op businesses are more resilient to the economic devastation caused by Covid. It reveals:
- Co-ops four times less likely to cease trading – just 1.5% of co-ops were dissolved in 2020 compared to 6.5% of businesses generally
- Number of independent co-ops grew by 1.2% in 2020 despite the global pandemic
- Turnover for the UK’s 7,237 co-ops grows to £39.7bn (an increase of £1.1bn)
- Co-ops are more ambitious than small businesses generally, with 61% of co-ops expressing ambitions to grow or develop in the first quarter of 2021
Government should invest in more co-op business support
The CEOs of nine of the largest retail societies in the UK have jointly written to Chancellor Rishi Sunak calling for more tailored business support for co-operatives catering to their distinct approach to capital raising, business strategy and organisational development.
How do we compile the report?
The Co-op Economy report is compiled by Co-operatives UK on behalf of the UK co-operative movement. The report analyses data from thousands of co-op businesses across the UK for the period 2006 to 2021, including a representative sample of the UK’s co-ops through the 2021 Co-op Economy survey (3.6% of the UK’s co-ops).