Cooperatives
Cooperatives are resilient business models which give their members the ability to steer the direction and priority. It's generally run democratically, where each member has an equal vote. Current legislation is not fit for purpose and is very limiting in the scope of what a Cooperative can do, and how it does it. It is important that this business model is put on equal footing with other business models.
Fiscal incentives. Create fiscal incentives to encourage Cooperatives on a level playing field with other business models.
Tax Credits & Grants.
The Cooperative Societies Act
New Legal Framework. To update the 20-year-old legislation and make it fit for purpose, for the current economic realities
Ensure ‘One member One vote’ principle.
Enable Societies - Cooperatives between diverse entity types.
Reduce the minimum number of members required to 3 from 5. To increase accessibility and align with international trends.
Ensure representation of Cooperatives in the Enterprise Consultative Council, the Small Business Advisory Committee and the College of Regulators.
Revise discriminatory legislation.
Enable Community Cooperatives.
This would facilitate members of a community investing in a good collectively for the benefit of the community.
Enable Home & Housing Cooperatives.
This would enable individuals living, or aiming to live with a building to pool resources together effectively and allow greater flexibility on types of housing.
Ensure Cooperatives are part of the relevant educational curriculum.
Foster Social Enterprise Educational Courses at Tertiary level.
