New era for co-operatives as enterprise hub heads east

Fledgling businesses in the East of England were given a massive boost today (31 March) with the launch of a dedicated co-operative support service designed to promote employee-owned businesses.

As the UK emerges from the credit crunch, the co-operative business model is being championed by all the mainstream political parties as an alternative way of doing business.

The Co-operative Enterprise Hub is a £5 million UK-wide programme of support for new and existing co-operatives by The Co-operative Group - the world’s largest mutual retailer with 5.3 million members.

The official launch of the East of England Co-operative Enterprise Hub (announced at the Homerton College Conference Centre, Cambridge, on Wednesday, 31 March) follows a series of successful pilot-schemes across the UK which has led to the creation of more than 150 new co-operative businesses.

Michael Fairclough, The Co-operative Group's head of community and campaigns, said: "With the UK economy looking forward to recovery, people are awakening to the co-operative business model and seeing its merits as a modern, effective and relevant way of doing business - a solution to many of the issues and challenges facing UK business and the economy today.

“Highly successful co-operative businesses operate across every sector of our economy and in practically every country across the world and yet, here in the UK, they can still be viewed as being outside of the business mainstream.

“Co-operative’s make invaluable contributions to society, the environment and the wider economy and, the Group is keen to play its part in fostering new forms of co-operative ownership. By pledging almost £5 million over the next three years we can support the creation of successful consumer and employee owned co-operatives in the UK.”

A significant proportion of The Co-operative Group’s investment will be used to offer advice and training services to new and existing co-operative enterprises including, up to four days free business advice. Having delivered the service, co-operative development advisors can then signpost clients to further support, and finance packages available through the enterprise hub.

For further information about The Co-operative Enterprise Hub and the advice, training and consultancy available through its regional and national network of experts, visit www.co-operative.coop/enterprisehub or, telephone Angela Davies, co-operative development manager, on 0161 246 3020.