What do you need to start a co-op?

Starting a Cooperative

1. Establish a steering committee. You need to have a group of people who represent the cooperative’s potential members.
2. Carry out a feasibility study.
3. Draft Articles of Incorporation and Bylaws.
4. Create a business plan and recruit more members.
5. Secure financing.
6. Launch.

What a cooperative is supposed to be?

A cooperative is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.

What makes a cooperative?

So, what is a cooperative? According to Merriam-Webster Dictionary, a cooperative is “an enterprise or organization owned by and operated for the benefit of those using its services.” Put simply a cooperative is a business owned and controlled by the people that it services.

How do I set up a workers cooperative?

1. Workers’ Co-op. Why put up with a boss when you can set up your own democratic.
2. Your idea and the group. The first thing to work on is the foundations that your coop will be built on.
3. Your business plan.
4. Your legal structure, money and paperwork.
5. Launching your co-op.
6. At the end of the first year.
7. Find out more.

How is cooperative financed?

Funds created through the retention of cooperative business surpluses that are not directly allocated to members are another important source of cooperative capital. This is a long term source of funds since most cooperatives’ rules allow these funds to be distributed only when a cooperative is liquidated.

What is a cooperative business?

A cooperative is defined as a user- owned and controlled business from which benefits are derived and distributed equita- bly on the basis of use or as a business owned and controlled by the people who use its services. In many respects, cooperatives resem- ble other businesses. They have similar.