'The Hive' £1M business support programme launches to help growth in the UK's £37BN Co-operative economy

29 February 2016

3 min read

The Co-operative Bank and Co-operatives UK today (29 February, 2016) announce the launch of ‘The Hive’, a new business support programme for people wanting to start or grow co-operative or community enterprises, using a mix of online resources, training and advice. The programme is designed to enhance the development and growth of co-operative and community enterprises, a sector that is currently worth £37bn to the UK economy.

Over the next three years, The Hive, the first co-operative development programme of its kind in the UK and powered by £1million* funding from The Bank, will support the development of the existing 7,000 independent co-operative businesses across the UK alongside helping new co-operatives and community businesses starting up.

The launch comes as a new report – The Co-operative Option – highlights evidence of people’s discontent with the amount of control they have over the economy, their workplaces and their local communities. And it finds that people see co-operatives as an answer, whether as a way to have more influence over large businesses or as a way to save local services in their community.

The Co-operative Option report** found that of those who expressed an opinion:

  • Almost two thirds of people (59 per cent) feel they have no control over the economy and 62 per cent said the same for the big businesses in Great Britain;
  • Two thirds of people would like their library or leisure centre (69 per cent) or family’s elderly care provider (66 per cent) to be a co-operative, and 68 per cent of people say the same for their supermarket and also for their healthcare provider;
  • Whereas almost two thirds (62 per cent) of people see co-operative businesses as fair, only one in ten (11 per cent) say the same of PLCs;
  • 68 per cent of people in work do not feel that their workplace is something they can influence, a 10 per cent increase since last year;
  • 72 per cent of people have, or like the idea of, clubbing together with other people to save a local service or asset, particularly historical buildings, public parks, and local shops and pubs.

Commenting on the launch of The Hive, Ed Mayo, General Secretary at Co-operatives UK, said: “The Hive is a new business support programme designed for people wanting to start or grow co-operatively run organisations. It will provide mix of online resources, training, advice and peer mentoring to organisations and start-ups across a range of sectors, from renewables to retail, sports to social care.

“Our research shows that there is increasing disillusionment at the lack of control people have over the economy, their local area and their workplaces. However, it highlights how people also see co-operatives as an alternative way to have some influence over everything from what happens at their local leisure centre to the content of their preferred TV channel.”

Niall Booker, Chief Executive at The Co-operative Bank, said: “The Hive is a UK first programme that can help guide business people through the process of starting a co-operatively run business, assist those wanting to convert to a co-operative, and help existing co-ops grow. We have a combination of public support for co-ops, a dynamic sector and now an innovative business support programme, which can help boost an important part of the economy.

“Last year we underpinned our commitment to supporting co-operative values and ethics in the UK with the launch of our extended Ethical Policy. This partnership brings our commitment to life by providing funding over the next three years to launch and promote ‘The Hive’ in order to provide resources and expertise to help existing and new co-operatives grow and flourish.”

The Hive offers comprehensive online business advice and guidance, alongside one-to-one support, peer mentoring and group training sessions, covering key issues such as registration, membership development, and co-operative finance. An online co-operative community, launching in April will unite member-owned businesses across the country, creating networking and business development opportunities.

For more information on The Hive visit www.thehive.coop

ENDS

Notes to Editors:

About the Co-operative Bank

the Co-operative Bank plc provide a full range of banking products and services to almost 5 million retail and SME (Small and Medium Sizes Enterprises) customers. The Bank is fully committed to values and ethics in line with the principles of the co-operative movement.

For further information please contact

Nicki Parry, Head of Media Relations

The Co-operative Bank Press Office

Tel: 07734 002 983

Email: nicki.parry@co-operativebank.co.uk

Twitter: @CooperativeBank

Contact

Corporate

Lesley McPherson, Director of Communications

Mobile:+44 (0) 7725 903 270

Email Lesley McPherson

Head of Media Relations

Nicki Parry

Mobile: 07734 002 983

Email Nicki Parry

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