The Hive application guidance – start‑up co‑op businesses
Application questions – about your business
Organisation aims/brief description
Tell us about your emerging co-op/ business idea (max 80 words)
Briefly describe the co-op business – aims and purpose
Background/motivation
Tell us about you / your group
- What’s your motivation for starting the co-op and why do you think it’s needed?
- What’s your background and experience? This can be about your personal circumstances, career and skills.
- How long have you been working on this and what have you achieved so far?
- Why is a co-op a good fit / better model?
Products, services and customers
How will it work?
- What are your products and services?
- Who is the co-op for e.g. workers, community, customers?
- Who will be the members?
- Who are your intended customers, users and members? Are they individuals or businesses?
- Try to be specific. How many customers or users will you aim to have? What are their demographics? Where are they located (local community, regional, national or wider)?
Testing and Viability
Viability, sustainability and growth.
- How have you tested your business idea?
- What evidence can you provide? This can be market research, feasibility study or a prototype.
- Are you filling a gap in the market, offering something new?
- Have you undertaken any community engagement? (pledges, surveys, social media, crowdfunding)
- Have you drafted a business plan?
- Have you produced financial forecasts, cashflow?
- How are you raising the funds to start your enterprise? This could be from your own funds, loans, grants, crowdfunding etc.
- What are the likely risks, main barriers?
- What are your ambitions for the business?
Governance
Governance. How are you organised
- Who are your core founding group?
- How many people?
- What are their roles, skills and relevant experience?
- How long have you been working together?
Impact
- Tell us how your business idea/organisation supports, serves or benefits under-represented or hard to reach communities and demographics, e.g. Black, Asian & Minority Ethnic communities (BAME), or young people.
- Tell us how you are creating or delivering social value and environmental impact (what issues, problems are users/beneficiaries facing and how are you solving these issues? How will you measure social impact?
- Do you have an understanding of the co-operative values and principles?