Does anyone run a Co-Op business?

[RichTT]

Afternoon all,

With all the uncertainty in my industry (oil & gas) and the recent 9 months sat at home on 45% of my usual take home I started musing on the future.

Or rather my future. I have a fledgling business idea, i'm currently working on the business plan and general market research. I think I have a solid business case and likely would start self funding during my time at home. I also potentially have a few other folk in the same situation that might come onboard if the opportunity presents.

Whilst looking at different options for the business i was looking at some of the business planning advice for running a Co-Op business. This appeals to my in a few ways. I enjoy working as part of a team, not necessarily as a boss and employees. Especially if working with like minded individuals. I'm also a bit of a closet commie / socialist and would like to build a business plan that has defined social contributions (ie % of profit to local charity) and possibly working with local groups to benefit the community.

Does any one on here have any experience in running or working within a Co-Op structure and could offer any real world experiences? Would be much appreciated.

[PugwasHDJ80]

https://capeq.co.uk/b-corps

this was what we did, having had a similar thought process.......

We felt it was critical to have profit generation at the heart of the business, but also critical that the profit improved everyone's lives, not just the shareholders and directors. We have a requirement in our articles that every decision considers society at large, we give 15% of net profits to staff (on an open book basis), we have named charities and support charitable giving.

[RichTT]

PugwasHDJ80 said:

https://capeq.co.uk/b-corps

this was what we did, having had a similar thought process.......

We felt it was critical to have profit generation at the heart of the business, but also critical that the profit improved everyone's lives, not just the shareholders and directors. We have a requirement in our articles that every decision considers society at large, we give 15% of net profits to staff (on an open book basis), we have named charities and support charitable giving.

Thanks for the feedback. I'll have a look through the B-corps information.

I'm still trying to get my head round everything that I would need to do to set up a small business, but thankfully have found quite a lot of resources online. However as this would be something completely outside of my field it's certainly a learning process!