- 2 in 10 of Australia’s largest private companies by revenue are member owned, including:
- CBH group (ranked 4th overall)
- HCF (ranked 6th overall)
- 5 of the top 50 firms member-owned, representing a combined $10.28bn in annual revenue.
Today’s IbisWorld Index of the nation’s top 500 privately owned companies reveals the resilience of the co-operative and mutual model, with two out of the top 10 being owned by members, says BCCM CEO Melina Morrison.
“The co-operative and mutual business structure is the ninja economy, hiding in plain sight, with the Top 500 list showing this is the way to do business in the current economic climate,” says Ms Morrison.
“As IBISWorld chairman Phil Ruthven says, private firms are more inclined to invest profits back into the business rather than pay out dividends to shareholders,” says Ms Morrison, whose organisation represents over 2000 co-ops and mutuals.
“This goes double for member-owned firms, where this increased reinvestment of profits leads to our agriculture businesses like CBH being able to scale up and compete in global markets.”