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Some Important advantages of setting up a cooperative society.
Encouragement of savings:
Co operative societies encourage saving habits among their members
Democratic in Nature:
Each member of the society has equal say in the organization. Members are entitled to one man one Vite, irrespective of share held.
Render financial Assistance to member:
They can mobilise funds needed for business investment and expansion by giving loans to members.
Improve members standard of living:
They improve the standard of living of their members by providing goods which they cannot buy on their own example electronics, land etc.
Ensure low rice of Goods:
They buy from producers and sell to members at low prices hence the middlemen and the attendant high prices of goods are by passed.
The Educate their members:
Co operative society also provides technical information to their members about the best methods of production example farmer co operative.
Encouragement of savings:
Co operative societies encourage saving habits among their members
Democratic in Nature:
Each member of the society has equal say in the organization. Members are entitled to one man one Vite, irrespective of share held.
Render financial Assistance to member:
They can mobilise funds needed for business investment and expansion by giving loans to members.
Improve members standard of living:
They improve the standard of living of their members by providing goods which they cannot buy on their own example electronics, land etc.
Ensure low rice of Goods:
They buy from producers and sell to members at low prices hence the middlemen and the attendant high prices of goods are by passed.
The Educate their members:
Co operative society also provides technical information to their members about the best methods of production example farmer co operative.