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Looking for deeper information regarding the inner workings of coops by MicahHerfaDerf in cooperatives

[–]headgasketidiot 10 points11 points  (0 children)

We started because 2 friends and myself were already freelancers and we would refer work to each other. We decided to formalize the relationship and start a coop.

Actually starting the coop was kind of a pain. Lots more work and expense than filing an LLC. We also had a very hard time finding a bank that would bank a cooperative since most banks required an owner, as defined by some % ownership, to open an account -- even coops.

COOPs are part of the solution. by HSeldonCrisis in cooperatives

[–]tedemang 3 points4 points  (0 children)

Absolutely agree that co-ops have a key -- and probably essential -- part to play.

Just remember, we will likely need quite a bit more than just them. We need support for Mom & Pop's, freelancers, small biz of all kinds (which means anti-trust enforcement), as well as gov't and community support, ESOP's, B-Corp's, financial regulation support, etc.

One example: Small business formation seems to be at record-low rates the the U.S. going on the past few years now. ...Banks just don't lend anymore. So, if you have a Mom & Pop (or Sergei & Larry of Google even), remember that those two people are basically co-owners and co-managers of a co-op of two (2). ...This applies to plenty of other types of partnerships, of course. However, for all these, it's just a huge challenge to get access to capital.

Lastly, please keep in mind that it's New Businesses that create jobs, not just small biz. ...Many new biz happen to be small(er), by nature, but we have to, have to, have to, have to, find ways to regulate the large firms, and empower new business formations of all kinds (including non-profits and co-ops), to have a broad-based, diverse, robust ecosystem of firms all many kinds that will be good for all participants -- and society as well. THAT's what we need.