31 October 2012 10:25
The Co-operative has helped 1,000 grassroots mutual organisations in the past three years, revealing the huge growth in community-owned organisations, the group said today.
Since launching its Enterprise Hub, the Co-op has helped local pubs, post offices and retail outlets, using the co-operative model of business ownership.
The group today pledged a further £5 million over the next three years to develop its service.
Michael Fairclough, The Co-operative's head of community and co-operative investment, said: "Communities across the country, driven by needs other than to maximise profit, are turning to co-operatively-owned solutions for the provision of businesses and services.
"These enterprises are operated by a general public increasingly concerned for accountability, transparency and sustainability and collectively they are making a significant contribution to the rebalancing of the UK economy."