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Unit#5 Developing A Co-operative. Incorporation . Understanding of the Co-operatives Act Minimum of 3 members Must submit: Articles of Incorporation, Draft By-Laws Business Plan Reviewed by the Registrar of Co-operatives Certificate of Incorporation issued. The Development Process.

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incorporation
Incorporation
  • Understanding of the Co-operatives Act
  • Minimum of 3 members
  • Must submit:
    • Articles of Incorporation,
    • Draft By-Laws
    • Business Plan
  • Reviewed by the Registrar of Co-operatives
  • Certificate of Incorporation issued
the development process
The Development Process

Elements of a Successful Co-op Start-up

  • Identifying a common need for a service that requires a common action
  • Agreement amongst potential members that the a new coop can best address this need
  • An adequate level of trust among potential members must be developed
  • Member’s personal and financial commitment must be secured
  • Other key stakeholders support must be on side
  • Capacity to implement business and operational plans must be in place
phases of the development process
Phases of the Development Process

Phase 1: Opportunity Identification

  • Marketing & Promotion of the Co-op Model
  • Informed Response to Public Inquiries
  • Introductory Presentations/Workshops

Phase 2: Development of the Business Idea

  • Initial Concept & Market Assessment
  • Initial Agreement re Co-op Model & Objectives
  • Development of Concept Paper
  • Initial Assessment - Project Financing and Feasibility
  • Development of Initial Budget Estimates
phases of the development process1
Phases of the Development Process

Phase 3: Building the Co-op Group

  • Confirmation of Co-op Structure & Membership
  • Establishment of Steering Committee
  • Agreement on Tasks & Time Lines

Phase 4: Confirming Business Feasibility

  • Group Consensus - Potential Feasibility
  • Development of Business Plan*
  • Recruitment of Members Initiated
  • Agreement on Member Equity Contributions
  • Potential Financing Sources Confirmed
phases of the development process2
Phases of the Development Process

Phase 5: Co-op Incorporation

  • Draft By-laws and Business Plan Completed
  • Provisional Board of Directors Confirmed
  • Articles of Incorporation Completed
  • Documents and Fee Submitted
  • Registrar Confirms Incorporation

Phase 6: Business Start Up

  • Banking/Accounting Procedures in Place
  • Member Equity and Business Financing in Place
  • Staff Hired (if required)
  • Operational Policies/Procedures Developed
  • Opening Ceremonies - First AGM Held
phases of the development process3
Phases of the Development Process

Phase 7: Ongoing Co-op Operations

  • Policies and Procedures Manual
  • Monitoring of Operations
  • Regular Board Meetings
  • Ongoing Policy Development
  • Development of Business/Community Networks
  • Membership in Provincial/Regional Centrals
support services
Support Services
  • Co-opZone Newfoundland & Labrador
    • Regional Co-op Developer’s Network
    • Co-op Equity Investment Fund
    • Community Capacity Building Program
    • www.nlfc.coop
  • Agriculture & Agrifoods Canada
    • Co-op Secretariat
    • Co-op Development Initiative
  • National Co-op Sector Programs/Services
    • Co-op Atlantic
    • Co-operators Development Fund
    • Canadian Co-op Association
    • www.coopzone.coop