REVEALED: Co-ops more resilient to Covid – Co-op Economy Report 2021 – Co-operatives UK

The Co-op Economy 2021

The Co-op Economy 2021 shows that co-op businesses are more resilient to the economic devastation caused by Covid. It reveals:

  • Just 1.5% of co-ops were dissolved in 2020 compared to 6.5% of businesses generally
  • Co-ops are four times less likely to cease trading
  • Number of independent co-ops grew by 1.2% in 2020 despite the global pandemic
  • Turnover for the UK’s 7,237 co-ops grows to £39.7bn (an increase of £1.1bn)
  • Co-ops are more ambitious than small businesses generally, with 61% of co-ops expressing ambitions to grow or develop in the first quarter of 2021