Strengthening our Cooperative Identity

The digital economy is around us. It transforms the world as we know it. From the “new normal” introduced by COVID-19, business models are emerging motivated by positive social impact, sustainable development and inclusion of gender and cultures. However, the digital economy is profoundly disrupting the world of work. What must be done to remain a source of inspiration while respecting members and their common interest? How can cooperatives guarantee a bright future for workers while going digital?

All types of organizations need to demonstrate an ethical, strong and resilient value chain that meets the highest standards to fight modern slavery, financial crime and climate change. Cooperative members are demanding more information on the products and services they consume. Regulators are considering stricter enforcement programs with substantial penalties for those who do not comply. How satisfactory are the relationships of cooperatives to current partner organizations in various value chains? Are there more business opportunities within the global Fair Trade? Are secondary and tertiary cooperatives being used for leveraging the regional and global markets? Are they providing enough support to primary cooperatives and their communities?

Innovation and entrepreneurship require the ability to connect to a large support network of people, ideas and financial resources. Successful cooperative partnerships and groupings, both sectorial and cross-sectoral, have developed in many countries over the last decades, based on cooperative Principle #6: cooperation among cooperatives. Can strong global network of cooperatives be created to increase market share and enter new ones? How do cooperatives pool entrepreneurial support services for start-ups, worker and community buyouts?

Based on their identity, cooperative enterprises have a specific capital structure because of their ownership and control system, with limited nominal capital contributed by members, while building long-term reserve funds. As a result, cooperatives strive to find innovative ways to build capital in order to support their development and to make sure their capitalization model is taken into consideration by regulators. What should be done to ensure a form of capital management that allows for cooperatives to innovate, be resilient, grow and succeed in their mission?