What exactly is a cooperative?
Definition
At its core, a cooperative (co-op) is an association of individuals who choose to come together with the objective of meeting common community needs around economic, social, or cultural issues. This is typically done through a jointly owned, highly democratic enterprise. While traditional businesses prioritize shareholder earnings, the purpose of a cooperative is to primarily benefit member-owners.
Types of Cooperatives
There are many different types of cooperatives that exist such as business co-ops, housing co-ops, and even education co-ops! Each of these individual models support democratic control and joint ownership.
Grow2Learn Cooperative
Cooperatives like Grow2Learn fall into the category of business co-ops. These are generally member owned businesses like grocery stores or agricultural groups that form an organization to share profits among members. Funds are distributed to those participating in the co-op based on their participation or customer patronage rather than the traditional model using external investors.