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About Co-operatives
Co-operatives are democratic organisations. Co-operatives are owned and controlled by their members. They are traditionally based on values of self-help, responsibility, and equality.
Co-operatives are different from public companies because voting rights are based on membership (ie. one member, one vote) rather than shareholding. Co-operatives can be involved in a variety of social and commercial activities. A co-operative may carry out any activity defined within its rules.
When a co-operative is formed it has its own legal identity separate from its members. As a legal entity in its own right a co-operative bears liability for its acts. This means that legal claims made against a co-operative are the responsibility of the co-operative.
General co-operatives must have at least five active members at all times. There is no limit on the maximum number of members a co-operative may have.
Please see a full list of NSW Co-operative businesses here and a videos below. Check out the Business Council of Co-Operatives and Mutuals here.
Types of Co-operative Structures
Practically any type of business can be operated by a co-operative. In Australia, around 1,700 cooperatives are active in a very diverse range of sectors, including agriculture, arts, child care, health care, clubs, community services, education, energy, finance, hardware, housing, radio broadcasting, fishing, manufacturing, produce marketing, recycling, respite care, retail, superannuation funds, communications, transport, wholesale, and wine sales. It is generally said that there are four categories of Australian co-operatives:
Consumer co-operatives, which buy and sell goods to members at competitive prices in a variety of sectors.
Producer co-operatives, which may process, brand, market and distribute members’ goods and services, or supply goods and services needed by their members, or operate businesses which provide employment to members.
Service co-operatives, which provide a variety of essential services to their members and communities.
Financial co-operatives, including co-operative banks, credit unions, building societies and friendly societies, which provide investment, loan and insurance services to their members.
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As member-owned, member-run and member-serving businesses, cooperatives empower people to collectively realise their economic aspirations, while strengthening their social and human capital and developing their communities.
More than 12% of humanity is part of any of the 3 million cooperatives in the world!
The largest 300 cooperatives and mutuals report a total turnover of 2,146 billion USD, according to the World Cooperative Monitor (2020).
Cooperatives contribute to the sustainable economic growth and stable, quality employment, providing jobs or work opportunities to 280 million people across the globe, in other words, 10% of the world’s employed population.
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