UK: Co-operative sector has grown by more than 25% since credit crunch – report
(www.guardian.co.uk) From Scottish cyclists to Yorkshire farmers, thousands of Britons have turned their back on dog-eat-dog capitalism and opted to do things for themselves, according to a new report which shows the turnover of co-operatives has grown by more than 25% since the credit crunch.
Ed Mayo, the secretary general of Co-operatives UK, which represents the sector, said: “We’ve seen lots of new-start co-operatives emerge, which reflects a DIY type of culture.”
Until recently, the co-operative was regarded as an outmoded model. But since the limits of shareholder capitalism were brutally exposed in the recession, their all-in-it-together approach has won new converts.
“One of the things that comes out of the credit crunch is: how do we avoid this lemming effect of everyone doing exactly the same thing?” said Mayo.
The annual report from Co-operatives UK, to be published this week, shows that while big players such as the John Lewis Partnership and the Co-operative Group have been performing strongly, a new generation of smaller, grassroots organisations has also grown up.
Read more: http://www.guardian.co.uk/business/2011/jun/26/co-operative-sector-has-grown-more-than-25-per-cent
