Worker Co-ops In The UK
Worker co-ops, which are businesses owned and managed by the workers themselves, offer many opportunities. More people are entering into worker co-op situations in the UK than ever before. People generally turn to co-op solutions when financial times get tough. Recessions and poor economic outlooks often effect the availability of good jobs. So it only stands to reason that a worker co-op can be a solution to this problem. Here are some reasons why more people are turning to worker co-op situations in the UK.
A democratic approach to the decision-making processes of a working business, is the backbone of worker co-ops. Many businesses in the UK and elsewhere in the world are run from the top down. A central figure or boss doles out directions to managers, who then relay information to the workers. This can be ineffective in certain environments. People become frustrated with one another, and work does not get accomplished. Sometimes a disconnect occurs between the workers and management. Concerns are not addressed in a timely manner, either. Worker co-ops can limit some of these troublesome issues.
One of the main driving forces behind any business is the generation of revenue. Workers who own the businesses they work for, naturally work harder. They come to work eager to make money. People who join worker co-ops find that they stand to earn much more money than they would working for someone else. For example, if you make high-end wooden furniture by hand, and you work for someone else, then a majority of the profits goes to the business owner. However, worker co-ops allow the workers who make these furniture pieces to evenly distribute the money they earn among themselves. Yes, there are operating costs and costs for bills, but more money finds its way to those who put in the time and effort.
Worker morale is another driving factor behind worker co-ops in the UK. Individuals tend to enjoy their jobs more when things are running smoothly. Earning potential can excite any worker. When you are able to become financially compensated through your efforts, then it instills a sense of pride in you. Nobody wants to come to work to be yelled at or criticized all day. Worker co-ops allow people to work together toward a common goal. Everyone stands to benefit from everyone else doing their part the way they are supposed to.
When you invest in something you believe in, it creates a sense of pride. Worker co-ops are continuing to grow in the UK. More people are beginning to realize both the long-term and short-term benefits of this financial choice. The rewards are endless, but there are risks involved as well. If multiple people purchase a business, and then that business fails, then this can negatively effect more than just one business owner. However, if everyone works hard together, a worker co-op can be an incredibly lucrative experience.