co-operative businesses

Cooperative businesses, or co-ops, are organizations owned and operated by their members, who use their goods or services. Instead of profits going to external shareholders, any surplus revenue is shared among members or reinvested to benefit the group. Co-ops can be found in various sectors like retail, agriculture, housing, and banking. They emphasize democratic control, meaning each member typically has one vote, regardless of how much they have invested. This structure promotes fairness, community involvement, and aligns the business’s success with its members’ needs.