A very simple definition of a
co-operative would be to say it is a business where a group of people get
together voluntary to address their common needs.
A co-operative is a distinct form of
enterprise that provides services and/or products to its members. Profits, known
as surpluses in a co-operative, are divided among members in relation to the
amount of the business each member did with the co-operative.
By registering a co-operative, you are
creating a legal entity with certain powers to act on its own and certain responsibilities.
Before registering a co-operative, take note of the important record-keeping
that need to be done by a co-operative.
Before you decide to register a
co-operative you need to have a formation meeting to decide on common purpose and agree to
register a co-operative. At the formation meeting the members have to
decide on the form and type of co-operative. There must be at least five
founding members (people) in order to form a primary co-operative.
Co-operatives have certain principles, and are expected to include certain
values in all the work that it undertakes.
What you will need
ID Copies of all Founding members
members need to sign the application form and Constitution which we provide
10 Working days for the Co-operative to be registered