This blog was first published on Market Links website on July 16th 2018…
Cooperative businesses have a simple formula for success — Aggregate production or services to reduce input and overhead costs and distribute profits based on participation.
After partnering with over one hundred cooperatives through USAID’s Cooperative Development Program (CDP), I can say cooperatives generally make improvements in quality and quantity of service/production and gain market confidence within a short time. The incentive to join is clear. The benefit of cooperation for economic inclusion is straightforward — with a bit of ingenuity and a lot of perseverance, it could be profitable. It puzzles me that cooperatives around the world — innovative, flexible, and democratic — still struggle to attract youth. So in 2016, with support from USAID, we began a pilot program in Nairobi to work with young, urban professionals interested in starting their own cooperative businesses. Our goal was to leverage the service economy, appeal to the growing middle class, and get smarter about youth and the cooperative business model.
Read full blog here: https://www.marketlinks.org/post/thinking-differently-about-cooperatives-its-not-easy-it-sounds