Business ownership - EduqasNot-for-profit organisations
There are a number of different options when setting up a new or small business. These may depend on the size of the business, the number of owners and the level of risk owners are willing to take.
A co-operative is a business that is owned and run by its members. Co-operatives can be owned by the customers, employees or local residents. Co-operatives are set up to benefit their members. Each member of the co-operative has a say in decision making. Each member gets one vote so no one has more control than anyone else.
Consumer co-operatives – these businesses may be set up to provide quality products at reasonable prices. They may re-invest their profits into the company to help them achieve this aim.
Employee co-operatives – these businesses may be set up to improve the working conditions and standard of living for its staff. Profits are often shared with the employees.
Charities
A charity is a non-profit making organisation. Any profit the organisation makes is used to help charitable causes such as poverty, the environment, disease or education. These businesses often raise the majority of their money through donations.
