Members of mutuals and co-ops need to hone their “elevator pitch” if the concept is to harness the momentum created by the passing of key federal legislation this year, a Sydney audience has been told.
Wednesday’s Mutual Capital Leadership Symposium heard federal treasury laws amended in May will deliver an improved business environment for federally registered mutuals, including new mutual capital instruments to expand their business offerings.
Business Council of Co-operatives and Mutuals chief executive Melina Morrison said the new instruments would allow mutuals to compete with larger, listed companies without the risk of demutualising and whilst maintaining member control
But Mutuo managing partner Peter Hunt said member-based investment organisations also needed to seize the moment and speak up if they are to take a greater slice of a private market dominated by share-based investment.
Source: Mutuals buoyant but need ‘elevator pitch’, Daily Telegraph, 26 June 2019.