Congratulations! You've registered your co-operative and are about to begin trading. Here are the first things a new co‑operative needs to know.
Top tips for new co-ops
- Open a bank account. Access free banking services from our partner The Co-operative Bank.
- Know your registrar. Information for companies can be found at Companies House. Information for societies can be found at the Financial Conduct Authority.
- Directors and other officers, including the Secretary, have particular responsibilities. Find out more about good governance and download our guides.
- 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.
- Ensure that your corporate details are displayed correctly on any marketing materials or stationary
- Consider insurance for your co‑operative. Co-operative Insurance is an ethical and co-operative provider.
- If you haven't got a website or domain name yet, get a .coop domain name and download the coop marque
- Map out the coming year. Know your financial year end, when to hold your AGM and file your annual return and accounts and set reminders.
Support for new co-ops
- Join Co-operatives UK to be part of a network of co-operatives, access exclusive member content and specialist support.
- Find tips and tools from marketing your co-operative to growing your membership in the support for your co-op area of our website
- Sign up for our email newsletters to receive news, details of events and training and regular advice round ups on topical issues
- Meet other co-ops and community businesses at our free Co-op Connections networking events.
- See if you are eligible and apply for support from one of our co-op support programmes.
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Filing the annual return and accounts is an important event in the governance year of any business. Here are some practical tips to help co-operatives registered under the Co-operative and Community…
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Good governance is crucial to the effective operation of co-operatives – particularly those looking to grow – regardless of size, legal form or business sector.