30 May 2018
Acuity Magazine
When it comes to cooperatives, CAs can address five pain points to help clients manage the business model that is popular among not-for-profits.
t’s easy to see why the cooperative business model is popular, particularly among organisations with a purpose beyond profit. Unlike company shareholders, every member of a cooperative is an equal decision-maker, and members make all decisions collectively.
“Cooperatives are run by the members for the members,” says Kevin Franey FCA, Partner, Audit & Assurance, TNR Chartered Accountants. Yet about half of all newly formed cooperatives don’t survive their first five years. So what pitfalls and pain points do cooperatives potentially face and how can CAs help?
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