Is it advisable to be part of a cooperative society.

[PICKFORD]

The type of entity a business is determined by who possesses it. At the point when one individual possesses and works a business, it is often alluded to as a sole ownership. At the point when at least two individuals own a business, it is much of the time alluded to as an organization. An organization can be shaped by consolidating, framing a company possessed by less than 100 individuals, hundreds, or even a huge number of individuals.

A Co-operative is a business that is claimed and worked by individuals who utilize its items and administrations and advantage from what it brings to the table. Beside the possession structure, cooperatives have a couple other separating attributes that put them aside from different sorts of organizations.
A Co-operative otherwise called a business community, is characterized by the International co-operative Alliance as "an independent relationship of people joined deliberately to meet their normal monetary, social, and social requirements and goals through a mutually claimed and justly controlled undertaking." all in all, cooperatives are shaped by individuals who have a particular need and will work together to work and sort out a business that will address that issue.

Cooperative give various advantages to their individuals and the encompassing local area. Cooperatives give their individuals the advantage of restricted obligation from a business angle. If the community runs into monetary troubles or is blamed for bad behavior, the singular part proprietors can't be expected by and by to take responsibility for the agreeable's concerns. A co-structure operation's takes into account the exchange of offers starting with one proprietor then onto the next. On the off chance that a part moves out of the area, bites the dust, or no longer wishes to be a piece of a helpful, they can offer their stake or enrollment to another person. Indeed, even after each of the first individuals have left, the helpful will keep on existing.

 

[Jasz]

A cooperative society is a business where people cooperate with each other to use democracy to make decisions as they manage a company or business. In some cases, it may also be referred to as an association or a mutual society. The main reason why these businesses are popular across the world is because of certain advantages that are derived from operating under this system.



Being a member of a cooperative society entails more than simply buying shares in a business. There are a number of aspects that need to be considered, such as the purpose of the cooperative, the size and location of the business and how the rules and regulations may affect you.



Being a member of a cooperative society ensures that a person or family is acquiring goods and services at the lowest cost possible, especially in regard to food products in many cases. The cooperative model was used for many years by farmers so that they could have fresh produce and goods during the offseason, by having other members of their community bring their farm goods to the town center where they could be marketed during the winter. It is also a great way to make sure that every person ends up owning what they need and no more than that. And yet somehow it still manages to be a good deal financially by keeping cost down.

 

[Kingsley]

Honestly it is highly beneficial to join a cooperative society as there are alot that the members of the group stand to gain from the coming together of this people. They assist each other to meet their needs and to establish business if need be. Infact with the economic situation today in Nigeria people depend heavily on the coming together of cooperative society to fend for their families and take care of some of their basic needs. Just like in my domain there are people I know that depend on what they get from cooperatives to survive and take care of their business and family.