Economic Cooperatives

Economic cooperatives are a business model that consists of a group of people working together to meet a common goal of some sort. They are unique in that they are run and controlled in a democratic system by all of the members. Unlike a traditional capitalist business model where profits are the primary goal, in an economic cooperative, … Keep Reading → finances are one of many objectives that the group considers. The International Co-operative Alliance (ICA) is an organization which works to support co-operatives worldwide. For over 100 years the ICA has helped cooperatives to survive and grow. The ICA says economic cooperatives have the same business basis as traditional businesses in that it is addresses issues such as “ownership, control, and beneficiary.” The primary difference with economic cooperatives is that the members of the cooperative are involved in all three of the phases. Economic cooperatives can be found in a variety of industries; from production to financial services, and many others.