Business leaders within co-operatives believe the time is right to push the ‘Co-operative Advantage’ a survey conducted by Co-operativesUK has revealed. The results, which were announced at Co-operatives 2009, show that chief executives of top co-operative businesses (representing an annual turnover of some £11.6 billion) also think the sector should work more closely with mutuals and other likeminded organisations to actively promote their business models.
86% of respondents to the Co-operative Business Confidence Survey agreed that there has never been a better time to promote the values and principles of co-operatives which include democratic control, joint ownership, concern for the community and care for the environment.
The results of the survey, completed by chief executives of the businesses in the Co-operative UK 100, the annual ranking of the UK’s largest co-operative enterprises, show that there is a strong belief that the ethos of the co-operative movement will provide an advantage compared to other forms of business. In addition, 87% of respondents thought the time was right for the co-operative movement to work closely with the mutual sector to promote their comparable business models.
Many think that the current financial climate offers a real opportunity for the co-operative economy: 66% expected co-operatives to become more competitive and 73% agreed that co operatives were better placed to respond to the downturn because of a long term view of the development of their business.
The survey showed that the views of co-operative sector leaders were broadly in line with other predictions for the UK economy – an expectation that the recession and unemployment will be problems for the next three years and that more businesses will fall into administration.
On the whole, the mood of respondents was generally positive about the future. 73% didn’t expect to lose competitiveness or market share due to the economic downturn and, of those that did, 40% felt that it would have no significant impact on their co-operative’s financial position.
Dame Pauline Green, Chief Executive of Co-operativesUK, said: “This Business Confidence Survey has provided a valuable insight into the views of the largest co-operatives in the UK at the current time. The results confirm what we thought – that there’s a good deal of confidence in the co-operative model and a strong belief in the co-operative advantage as a sustainable, trusted and socially responsible form of business.”
