Cooperatives
So what exactly is a co-op?
A cooperative, or co-op for short, is a group of individuals coming together to meet a common economic, social, or cultural need/goal via a joint owned, democratically run enterprise. While traditional businesses prioritize shareholder profits, co-ops instead are owned and and governed solely by those who utilize their services. They almost exclusively operate for the benefit of member-owners. There are many types of cooperatives such as business co-ops, housing co-ops, and educational co-ops.
Business Cooperatives
Traditionally made up of member-owned businesses, such as grocery stores and agricultural groups, profits from sales are distributed to members based on their participation or customer patronage rather than relying on external investors.
Cooperative Core Principles
Most co-ops are built around similar core principles such as: voluntary membership, one member is one vote, and autonomy. These ensure accountability to the community rather than outside capital.