A Guide to Setting up a Co-operative Business
- Price: £3.60
- Published: February 2013
- Type: Business Information Factsheet
- Format: PDF
Co-operative businesses are democratic, member-owned trading businesses. They are usually formed by groups of people with shared goals or specific ethical reasons for wanting to set up a business together. They usually operate as for-profit businesses, although any profits remain under the control of the members and are not distributed to external shareholders. Occasionally social enterprises, community projects and not-for-profit organisations are established as co-operatives.
As with any other business, operating successfully as a co-operative requires a high level of commitment, a professional approach to management and a good understanding of your legal responsibilities.
This factsheet explains how co-operative businesses work and how to set one up. It also includes details of legislation affecting co-operatives, information on support and funding available, as well as hints and tips and sources of further information.