In the new 2021 Economy Report, released today by Co-ops UK, it was announced that Co-op businesses were four times less likely to have ceased trading during the Coronavirus pandemic than other non-co-operative businesses.
The report highlighted a number of areas that demonstrated that co-op businesses, those sharing the wealth, were stronger, more ambitious, and generally far more useful to have around. The report, accompanied by a letter signed by nine Co-op CEOs – including our own, Barry Wood – was sent to the UK Chancellor Rishi Sunak with a recommendation to increase government support to co-op businesses.
Currently, co-operatives and community benefit societies are regularly excluded from various government support schemes or are forced to pay costly additional rates as they aren’t classified as ‘companies’. This thereby restricts the amount of good work they can do across the country.
You can read a full copy of Co-op UK’s Economy Report, and find other useful resources, HERE.