Model of a Worker-Owned Cooperative
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Terry Craghead of Fertile Ground Cooperative Oklahoma City, Oklahoma
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Model of a Worker-Owned Cooperative
- 2. Residential Compost Collection Commercial Compost and Recycling Zero Waste Events Sustainable Lawn and Garden Service Compost Filter Socks
- 3. • To provide good, meaningful jobs for our worker-owners • To reduce environmental harm through environmentally beneficial services and education • To help others start worker coops 3 Objectives
- 4. What is Cooperative? A cooperative is “an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise” (ILO R193, art. 2)
- 5. What is a Worker- Owned Cooperative? A worker cooperative is a values-driven business that puts worker and community benefit at the core of its purpose. The two central characteristics of worker cooperatives are: • workers own the business and they participate in its financial success on the basis of their labor contribution to the cooperative • workers have representation on and vote for the board of directors, adhering to the principle of one worker, one vote
- 6. Conventional Business Worker Cooperative
- 7. Build Local Wealth Quality Jobs Meaningful Change for Underserved Populations Benefits of Worker- Owned Cooperative
- 8. How Has Being a Worker Coop Helped Fertile Ground Distributed Responsibility Financing through Sweat Equity Flexible Roles Bigger Network of Supporters - customer referrals & financing Synergy Keeps us Moving
- 9. Resources for Becoming a Worker Coop National Membership Organization US Federation of Worker Cooperatives - USWorker.coop Educational Resources Democracy at Work Institute - Institute.coop Industrial Cooperative Association - ICA-group.org Financing Shared Capital Cooperative - SharedCapital.coop LEAF - Local Enterprise Assistance Fund - leaffund.org Cooperative Fund of New England - cooperativefund.org The Working World - TheWorkingWorld.org Catholic Campaign for Human Development - Grants for Worker Coops KIVA US - up to $10,000 crowdfunded loans, 0% interest jennykassan.com - Securites expert for fundraising
Editor's Notes
- Why did you start your compost business? - I assume most of you probably didn’t say, because you thought you would get rich quick, but that you would provide a positive social impact.
- In contrast to traditional companies, workers at worker cooperatives participate in the profits, oversight, and often management of the organization using democratic practices. Workers own the majority of the equity in the business, and control the voting shares.
- In a conventional business, capital is King. But in a worker coop, capital is subordinate to labor. Capital works for labor. Does that mean we don’t seek investment? By no means, but it means that investors don’t get a say in the controlling the business.
- Worker cooperatives build local wealth At a worker cooperative, profits do not go to distant investors, but instead go directly to the workers. As a result, the money stays grounded in the local economy, building community wealth. With ownership in the hands of workers, who are usually living and spending locally, these companies stay connected and accountable to their communities. Worker cooperatives create quality jobs Workers have a meaningful role in the business, as they contribute to and benefit from the success of a company they co-own. Jobs at worker cooperatives tend to be longer-term, offer extensive skills training, and provide better wages than similar jobs in conventional companies. Furthermore, worker cooperatives offer opportunities for greater participation in management and governance decisions that help the business succeed. Worker cooperatives create meaningful change for underserved populations The New York Times concludes, “by placing workers’ needs ahead of profits, they address the root cause of economic disparity.” (3/23/14) More than half of worker cooperatives in the United States today were designed to improve low-wage jobs and build wealth in communities most directly affected by inequality, helping vulnerable workers build skills and earning potential, household income and assets.
- Starting a business is stressful. Spreading out ownership allows us to spread out responsibility. It’s in all of our interests to make this work. ⁃ More opportunities for friends and family financing ⁃ A bigger network of friends and families ⁃ Provided flexible labor as we have boot strapped. Some owners have had to decrease time/attention in our startup phase ⁃ The synergy of the group kept us going when we haven’t always seen a clear way through. Our team’s collective energy has stoked the embers when most
- Democracy at Work Institute - Institute.coop provides education and research to the public, developing the resources, capacity and conditions that support growth National Membership Organization that connects coops together, advocates for worker coops at local, state and national levels.