Today the IBISWorld’s 2016 Top 500 index of privately-owned companies was released with the co-operative and mutual sector again demonstrating its economic strength and importance to Australia. A repeat of last year, three BCCM members make up the Top 10: CBH Group (2), Devondale Murray Goulburn (7) and HCF (9). In total, 14 co-operative and mutual enterprises (CMEs) made the Top 100, which is an increase of two from last year.
CMEs make up:
- 30% of the Top 10, with grain giant CBH coming in second place
- 14% of the Top 100, up from 12% in 2015
- 7.6% in the Top 500
“This is another very pleasing result for the co-operative and mutual sector,” commented Melina Morrison, CEO of the Business Council of Co-operatives and Mutuals.
“The focus on shareholder-owned companies over the last decades has turned our sector into a ninja economy – these companies are hiding in plain sight. CBH Group, for example, handles 40% of our grain market.”
“It demonstrates that you can have strong revenues at the same as delivering the benefits of co-ownership or membership.”
“This revenue belongs to the many thousands of individuals who these companies belong to and that profit is channelled back into improving the services or functions for their owner-members”, added Ms Morrison.
Australia’s nearly 2,000 co-operative and mutual businesses are wholly owned by the 8 in 10 Australians that hold memberships in these companies.
You can view the Top 500 index in full here.
Read the IBISWorld Special Report: The Top 500 Private Companies in perspective