The need for Australia to have representation of cooperative and mutual businesses at a national level was a key topic discussed by cooperative business leaders recently when ICA President Dame Pauline Green toured the country in February.
It is hoped that the formation of a business council for cooperative and mutual businesses will take place by the end of this year. Greg Wall, CEO of the Capricorn Group, said the business council was a legacy objective of the 2012 International Year of Cooperatives program that would enable the sector to capitalise on the increased public awareness of cooperatives. Greg is Chair of Australia’s Secretariat for IYC 2012. Capricorn Mutual, the insurance business within the Capricorn Group, is a member of ICMIF.
Last August co-operative, credit union and mutual business leaders met at a summit in Canberra and discussions during the summit clearly demonstrated strong support for the establishment of a representative body for the social business sector.
During discussions at the summit it was agreed that the areas a representative body could address included:
- Promoting the growth and preservation of the cooperative and mutual business model
- Improved business efficiency, scale and distribution
- Tax reform
- Industrial relations
- Business advisory and centralised business services
- Improved governance practices
- Improved regulation
- Research and information
- A strong influence on economic and cross-sector business issues
Summit delegates agreed that the IYC 2012 should be the “launch pad” to highlight the cooperative and mutual business model in Australia.
One of the most recent initiatives to promote the IYC 2012 and the cooperative and mutual business models in Australia has been the launch of a $1 collectible coin and also some commemorative stamps.
At the launch ceremony for the stamps this February Greg Wall said that now is the time for Australian cooperatives to shine, “Across agriculture, banking, insurance, retail and many other parts of the economy, co-operatives are demonstrating that there is another way of doing business that can be successful as well as responsible.
“It is now time that we come together and focus on what needs to be done to allow our sector to flourish – to create Australian jobs, to generate profit for our customer owners and to provide viable solutions in tough economic times,” Mr Wall said.
Adding to this, Dame Pauline said “This is the first time the United Nations has granted International Year status to a business model, recognising the significant contribution that cooperatives are making across the globe.”
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