Co op er a tive
An autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.
Co-operatives are a business model that make sense socially, environmentally, and financially.
They balance people, planet, and profit, and as a result, tend to be more sustainable businesses with a high success rate. Twice as many co-operatives remain in operation compared to other forms of business enterprise after 10 years!
What makes a co-operative different?
A Snapshot of Ontario's Co-operative Sector
Ontario's co-operatives are an important part of the social and economic fabric of the province and play a key role in building a more sustainable and equitable economy.
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There are close to 1,200 co-operative businesses in the province with combined assets of $76B
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Financial co-operatives own over $70B in assets and generate $2.9B in revenue annually
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Non-financial co-operatives own $6B in assets and generate $5B in revenue annually
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72% of the province's co-operative businesses are Not-for Profits and 28% are for-Profit
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Over 19,000 individuals are employed full-time by a co-op, earning a combined $891M in annual income
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ROSCAs: An Alternative Co-operative Model
A Rotating Savings and Credit Association (ROSCA) is an informal financial group where members contribute fixed, regular amounts to a common fund, which is then paid out in full to one member per cycle. It serves as a peer-to-peer, savings or borrowing tool for community members without access to formal banking. ROSCAs are a unique financial model long celebrated for their ability to empower individuals to build financial confidence. Often operating in regions of the Black diaspora, these community-driven financial co-operative initiatives are practiced by people around the world and can be referred to by many different names.
Choose Co-operative - Together We're Stronger!
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Co-operatives offer a more equitable and community-oriented approach to business, making them a great choice when it comes to purchasing the products and services you need. The more we support co-operatives, the stronger and more sustainable our communities become! Learn more about the amazing co-ops from different business sectors across Canada!
Learn more about the global co-operative movement by visiting these sites!