Business benefits of co-operation
The co-operative acts as an agent for all of the member businesses.Ann MacCallum, Harris Tweed Artisans Co-operative.
Collaborating for growth
Working together allows individual businesses to generate efficiencies by sharing the cost of resources, such as equipment and staff. By collaborating, they can also access new customers and markets, increase their reach, and grow revenues as a group.
Continuity of employment
For retiring business owners, selling to staff via an employee buyout, rather than the traditional route of a trade sale, keeps employment in the local community and passes the business to those who arguably know it best. There can also be tax advantages for exiting this way.
Increased loyalty, productivity and sustainability
Giving staff a stake in the business tends to improve employee motivation and productivity. For example, employee-owned businesses are 5% more productive and 20% more sustainable than investor-owned firms.