’Maximising economic growth via Scotland’s co-operative and mutuals sector’ was the focus of a roundtable hosted by UK Government ministers last week.
A co-operative is a business owned and run by its members, and such is their success the Government is now committed to doubling the size of the sector.
Scotland was home to some of the earliest co-ops in the world, and experiences of such businesses were heard during the roundtable event held at New Lanark Mills - the historic cotton mill.
Scotland Office Minister, Kirsty McNeill, and Minister for Small Business and Economic Transformation, Blair McDougall, chaired the talk to gather insight on running co-operatives and non-financial mutuals.
It follows the Department for Business and Trade’s call for evidence on business support for co-operatives and non-financial mutuals, launched as part of last year’s Autumn Budget, which is collecting responses until 18 February.
The roundtable was attended by numerous representatives from different co-operatives across the country, including Scotmid, Co-ops UK and the Employee Ownership Association.
“There’s so much potential for co-operative growth in Scotland…”
McNeill (right) said: “Co-operatives and mutuals strengthen Scotland’s economy by creating stable jobs, keeping money in local areas and supporting businesses. There’s so much potential for co-operative growth in Scotland and the UK Government is committed to doubling the size of the sector.”
McDougall added: “Co-operatives and mutuals play a vital role in strengthening local economies and giving people a real stake in the places they live and work in. Today’s discussion was a great opportunity to learn about the sector’s experience and explore how we can help these models grow and thrive.”
The meeting brought together representatives from business representative organisations, co-operative development agencies and a diverse range of co-operatives, non-financial mutuals and employee-owned businesses from across Scotland.
Chief Financial Officer of Scotmid Co-operative, Craig Strachan, said: “As Scotland’s largest independent co-operative with deep roots in local communities, Scotmid is always looking towards the future of the sector. Sharing real-world experience from across the co-operative movement is an essential component in understanding what helps them succeed and endure.
“By bringing together perspectives from across the industry, discussions like today’s are crucial to progress forward-thinking actions to support the sector in sustainable growth.”
The discussion will inform the Government’s next steps in developing policy to ensure organisations are supported to start, grow and sustain - and existing businesses are supported to transition into a co-operative or mutual model.
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