Run your co-op
Whether you’re in the process of forming your co-operative or are well-established, there are fundamentals of running a co-operative of which you should be aware.
All co-operatives need to consider how they will raise the finance to achieve their objectives. For startups this could mean considering how you will raise the money for initial equipment purchases and operations. For established co-operatives it could be a strategic opportunity you want to take advantage of but requires an injection of funds.
Staying on track to achieve objectives also requires good governance and constant measurement and reporting.
Start your co-op
Attracting funding for a new idea requires planning from the start. There are two phases requiring finance in the development of all new co-operatives.
Measuring and reporting
Incorporating measurement and reporting systems from the start of a co-operative’s operations is crucial so that performance can be monitored from the beginning.