Co-operative Consortia: A model for growth in a challenging economy
Consortia approach helps Welsh Businesses grow
The Wales Co-operative Centre launches a new report today (Monday 25th June), highlighting the positive impact of businesses in Wales working together The publication, ‘Co-operative Consortia: A model for growth in a challenging economy’, looks at the benefits of using a consortia approach and how it can create businesses opportunities.
The report is the third in a series of publications which the Centre has produced to mark the United Nations International Year of Co-operatives 2012.
The report addresses consortia across several different sectors including tourism, food and drink, manufacturing, energy and construction.
A co-operative consortium is ‘a co-operative that is owned and controlled by the people or organisations that use its services’. Businesses can come together to share costs, services or a common facility to help members improve their business performance. The co-operative consortia structure allows a range of opportunities for growth across a variety of business sectors. In Wales, these include tourism, food and drink, retail, manufacturing and agriculture. The structure is flexible, adaptable and is an effective tool for helping like-minded businesses achieve objectives that they cannot achieve by working in isolation. The benefits of working in consortia include: improved access to procurement opportunities, developing joint marketing approaches, sharing risk, joint purchasing and developing quality standards. For micro businesses and sole traders they can also offer mutual support to business owners.
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