We’re in the Top UK Co-ops List!
We are pleased to announced that we have been named as the eighth on the Coop Economy top ten Workers Cooperatives in the UK, published by Co-operatives UK on 28 August, 2019.
Starting out with just one shop in 1977, we now have five shops across Scotland and North England as well as selling online. We are really chuffed that we’ve been named in the top ten of Workers Cooperative in this report.
So What is a Co-Op and Why are they important?
Co-ops are organisations owned and controlled by their members. They operate across all sectors, from community-owned pubs to multi-billion pound high street retailers and from the UK’s biggest farmer owned agriculture businesses to supporter-owned football clubs. The UK co-op economy is worth £37.7 billion – up £400m on the previous year – with 7,215 independent co-ops employing over 233,000 people and 13 million members who own and have a say in how the UK’s co-ops operate.
Ed Mayo, Co-operatives UK Secretary General, said: “The entire UK economy could learn a lot from co-operative businesses such as the Edinburgh Bicycle Cooperative. More co-ops can help pave the way for an economy that doesn’t just serve the rich – those already at the top of the food chain.
“Co-ops are more equitable; wealth is shared amongst members and they enrich the communities in which they operate. Not only are they better for society, but they’ve also got a much greater chance of surviving the difficult first few years of a new business.”
The 2019 report reveals that almost three out of four co-op start-ups (72%) are still flourishing after the difficult first five years of existence. In stark contrast, more than half of all new companies (57%) have ceased to exist before reaching that same milestone.
The Co-op Economy Report 2019 is compiled by Co-operatives UK, on behalf of the co-operative movement. It reveals turnover, membership and employee figures for thousands of co-op businesses.
Read the full report here.
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