CO-OPS MORE RESILIENT TO COVID – Co-op Economy Report 2021

According to the latest Co-op Economy Report issues 28 June 2021, Co-op businesses are more resilient to the economic devastation caused by Covid according to The Co-op Economy Report 2021. This has prompted a call for more government investment.

A few facts:

• Just 1.5% of co-ops were dissolved in 2020 compared to 6.5% of businesses generally
• Co-ops are four times less likely to cease trading
• Number of independent co-ops grew by 1.2% in 2020 despite the global pandemic
• Turnover for the UK’s 7,237 co-ops grows to £39.7bn (an increase of £1.1bn)
• Co-ops are more ambitious than small businesses generally, with 61% of co-ops expressing ambitions to grow or develop in the first quarter of 2021

Read the full report here