Simply, a cooperative (co-op) is a member owned and operated business or organization. Think “by the people, for the people.”
They exist to give people access to higher quality goods and services at a better price, as well as to have a positive community impact.
More generally, co-ops adhere to the seven cooperative principles as adopted by the International Cooperative Alliance in 1995.
Historically, cooperatives were formed out of necessity. To paraphrase Benjamin Franklin, the members had determined that if they did not hang together they would surely hang separately.
The resilience of cooperatives in the face of the financial crisis revealed an alternative purpose – the opportunity to thrive and not merely survive!!
The emphasis of F-Di-M will be on co-op formation beyond sink or swim scenarios. We plan to get the word out to a bigger audience that the first place they want to look for a product or a service is a co-op. It’s simply better!
Check the Small Business Administrations Government Website to learn more about the formation, taxation, advantages, and disadvantages of a Cooperative.