A co-operative economy makes the UK news

Co-operatives made the news in the UK today as stories appeared on BBC Breakfast, BBC Five Live, and in several national newspapers.

Co-operatives made the news in the UK today as stories appeared on BBC Breakfast, BBC Five Live and in several national newspapers.

The media attention was in response to the report released by Co-operatives UK that showed co-operative businesses outperformed the market for the fourth year in a row.

Early risers may have caught Co-operatives UK Secretary General, Ed Mayo, speaking on BBC Five Live this morning or tuned into see Steph McGovern from BBC Breakfast at the Handmade Bakery in Slaithwaite.

The story was covered by papers from nationals such as the Guardian, and the Financial Times to local papers including the Manchester Evening News and the Scotsman

When asked on BBC Five Live about why co-operatives were performing so well Mr Mayo said: “When times are tough you need to keep people in the business close to you, you need your customers to be loyal and your workforce to be motivated. This is what the co-operative model does really well.”

He added: “What we have seen in this report today is a real sense of public trust still in the co-operative business model.”

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In response to a statement about whether it is big businesses that are creating new jobs, Mr Mayo added: “I think actually it is almost the opposite. Across the economy as a whole, its big business that destroys jobs and its small firms that really do create jobs.”

Martin Flanagan, in the Scotsman, remarked about the boost in the co-operative economy. He said: “Is it naive to wonder whether the near‑collapse of the banking sector a few years back, and the sovereign debt crisis and austerity era that followed it, has focused consumer minds on effectively investing in businesses with a strong community ethic from renewable energy co-ops to co-operative schools?”

• To listen to Ed Mayo on BBC Five Live go here at 1 hour 48 minutes.

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