The economic turbulence has blown-away the dowdy, out-moded image of the co-operative business model to reveal a new generation dedicated to tackling the unprecedented challenges facing our society.
That is what a new report out today which looks at the annual review of the work of The Co-operative Enterprise Hub and, illustrates how communities, by embracing the co-operative model, can support the economy for future generations.
The report concludes that a co-operative economy is no longer regarded as a business backwater and it is witnessing new entrants engaged in a diverse range of sectors including: pubs, marketing and media, sports clubs, education, playgroups and gyms.
Michael Fairclough, The Co-operative Group’s Head of Community and Co-operative Investment, said:
“The co-operative business model has been described as an old solution to a modern problem. Fundamentally, it gives people a voice, a say in how services are delivered. In an age when the general public have serious concerns about the transparency of our financial systems, it is a model that is being increasingly adopted.