UK’s co-operatives: we’ve boomed since credit crisis
CO-OPERATIVES have massively outperformed other organisations since the credit crunch, a group promoting the sector will claim today.
The turnover of all UK co-operatives, including companies such as John Lewis and the Co-op, has surged by 21 per cent since the financial crisis hit in 2008, its figures show.
The combined turnover of all co-operatives expanded by 4.4 per cent to £33bn last year, Co-operatives UK said.
Membership has jumped by 18 per cent since 2008, to total 12.8m, the research showed.
The success provides an example to the public sector, as well as other private sector firms, according to Ed Mayo of Co-operatives UK.
“The values of shared ownership, shared wealth and democratic control appear to provide resilience in the face of economic adversities,” he said.