Co-operatives UK welcomes a report launched today at Parliament (3 July 2018) by New Economics Foundation, which sets out the aim to double the turnover of the co-operative sector by 2030.
Following on from the annual Co-op Economy report released last week, which showed that new co-ops are almost twice as likely as start-up companies to survive their first five years, Co-operatives UK Secretary General, Ed Mayo, put his full support behind ambitious plans to grow the sector, commenting:
“There can be a co-operative advantage for businesses that share ownership and profits, particularly in today’s economic context, and this report is an excellent analysis of how Britain can benefit from the difference that co-operatives offer.”
The report, 'Co-operatives Unleashed: Doubling the size of the UK’s Co-operatives Sector' calls for a new legal framework for co-operatives, finance that serves the co-operative agenda and the establishment of a Co-operative Development Agency. Ed continues,
"The co-operative model is a good fit for today’s economy: collaborative, innovative and rooted in communities. Sharing profits, for example through employee buyouts or business partnerships, makes good business sense for the long-term.”
The report, ‘Co-operatives Unleashed: Doubling the size of the UK’s Co-operatives Sector’ is published by New Economics Foundation, commissioned by the Co-operative Party and launched today at the Houses of Parliament. It is launched during Co-operatives Fortnight (23 June to 7 July), a sector-wide initiative to raise awareness of the valuable contribution that co-ops make to the UK economy and the communities in which they are based.