ICOS President, Edward Carr.

The Irish Co-operative Organisation Society (ICOS) celebrated the 30th UN International Day of Co-operatives on Saturday 6th, 2024. This day, marked globally for over a century, highlighted the substantial contributions of the co-operative movement to societal and economic development, and year’s theme is ‘Co-operatives build a Better Future for All.’

The UN International Day of Co-operatives emphasises the deeply important role of co-operatives in addressing global challenges and promoting sustainable development.

ICOS is the umbrella body for the co-operative movement in Ireland – including dairy processing co-operatives and livestock marts – whose associated businesses have a combined turnover in the region of €16 billion, with some 175,000 individual members, employing 12,000 people in Ireland, and a further 24,000 people overseas. In total, there are some 1,000 co-ops in Ireland, and the largest 100 organisations employ approximately 40,000 people.

ICOS President, Edward Carr said:

“Co-operatives represent a unique and powerful way of doing business, one that is built on the principles of mutual benefit, democratic control, and sustainable development. They have a proven track record in creating resilient and inclusive communities, particularly in times of economic hardship.

“Some of the most readily recognisable co-operatives in Ireland include the dairy processing co-operatives and livestock marts, creating multi-million revenues and employing thousands of people. However, there are many other co-operatives including the credit unions, housing co-ops and member-based enterprises engaged in renewable energy, retail, tourism, education and training, among many others.

“ICOS provides a guide with a roadmap for setting up a co-operative, covering essential steps such as planning, commercial feasibility, membership enlistment, investment, and registration. Marking the International Day of Co-operatives, we encourage all entrepreneurs, innovators and communities across Ireland to explore the co-operative model as a viable and rewarding way to do business.

“Co-operatives offer a unique blend of economic stability, social equity, sustainable practices and community empowerment. Their approach not only supports individual members but also contributes to the broader societal good, making them a vital component of a resilient and equitable economic system.

“While co-operatives have traditionally thrived in the agri-business and rural sectors, ICOS believes that the co-operative model holds vast potential across various industries, including digital services, renewable energy, tourism, housing, and more. The co-operative approach is particularly advantageous in times of market failure, offering a collaborative solution to challenges faced by individual businesses.

“As we navigate challenging times, the need for a strong, inclusive and resilient economic model has never been more critical. Co-ops provide a practical and effective means to achieve this, and ICOS is committed to supporting their development and growth throughout Ireland.”

Why a Co-operative?

In today’s rapidly changing economic landscape, co-operatives stand out as resilient and effective models for fostering community wellbeing and sustainable development. Unlike many traditional businesses, co-operatives often perform better during economic downturns. They provide stable employment opportunities, which helps sustain local economies even in challenging times. This benefits from the robust nature of co-operative structures and their commitment to their members.

Co-operatives are champions of social equity. They operate on principles of democratic control, where each member has a voice in decision-making processes. This ensures an equitable distribution of profits, meaning that the success of the enterprise is shared among all members rather than being concentrated in the hands of a few. Such a structure promotes fairness and helps bridge economic inequality within communities.

Sustainable development is another core benefit of co-operatives, prioritising community needs and environmental sustainability. Co-operatives play a big role in community empowerment, creating cohesion among members by enabling them to work together towards common goals. This collaborative approach not only strengthens community ties but also empowers individuals by giving them a platform to contribute meaningfully to the success of the enterprise.

More details here: https://icos.ie/wp-content/uploads/2024/01/Starting-a-co-op.pdf

Email: Info@icos.ie