According to a global report on co-operatives by Dave Grace and Associates, the NZ co-operative economy contributes 20% of the country’s gross domestic product and employs 43,000 people.
New Zealand co-operatives lead the world in numbers of people employed relative to the population and annual gross revenue relative to GDP.
According to a definition on the Co-operative Business New Zealand website, a co-op is a user-owned and controlled business where benefits are derived and distributed equitably on the basis of use.
The Otago Co-operative Cheese Company on the Otago Peninsula, started by eight farmers in 1871, was the country’s first co-operative and possibly the first in the Southern Hemisphere.
By 1900 there were 111 dairy co-operatives and 152 investor-owned companies.
An international study of 145 countries determined there were 2.6 million co-ops with more than one billion members and clients.
Co-operatives evolve but the fundamental principles under which they operate must remain. These are:
- Voluntary and open membership.
- Democratic member control.
- Equal economic participation by members.
- Autonomy and independence.
- Continuing co-operative education, training and information.
- Co-operation among co-operatives.
- Concern for the community.
