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At Appytech, we don’t believe in over-complicating stuff. We like to sit back, have a cuppa, and simplify the big, confusing topics puzzling people in the world of business.

There’s a word that’s been flying around, accumulating popularity, recently. That word is co-operative. Co-operative businesses are booming, and so far, they have contributed £34 billion to the U.K. economy! Appytech operate using co-operative principles, so we really are brainboxes within the field. Let’s answer a few burning questions.

So what is a co-operative? 

A co-operative is an independent business or organisation run by its members. This means that it is employee-owned, and is not governed by distant shareholders who are sat on yachts.

A co-operative can be a multi-million-pound biz such as the John Lewis Partnership, or a community focused SME. They operate in various sectors, ranging from retail to farming!

Why should I care?

Co-operatives enable ordinary people to get back a sense of power in our capitalist society. Co-ops are not about big fat profits for stakeholders. They give employees authority, local people influence and customers a voice. They are a new, fresh approach that the world is crying out for.

People benefit from co-operatives. There are now 7,000 co-operatives in the U.K – they are a very important and juicy part of our economy, particularly in the wake of Brexit. There are all kinds of advantages. Employees are having a say in how their organisations are run. Customers are influencing the businesses they use.

What is the future for co-operatives?

The boost from co-operation to the UK economy of higher employee engagement is estimated to be at least £59.4bn. That’s a lot of wonga. The collaborative approach that co-operatives abide by will also modernise and innovate the U.K. – long-term growth only happens when things are shaken up and modified. Co-operatives are also better for the planet – farmer co-operatives are increasing food supplies for everyone.

What does this mean for entrepreneurs?

Entrepreneurs don’t necessarily have to be lone wolves any more. They can build their business by co-operating with other like-minded individuals – after all, several brains are better than one! Co-operatives are a solution enabling people to succeed together, thus building sustainability, stronger communities, businesses, networks and industries.

What are co-operative principles?

It’s about embracing collaboration, diversity, freedom and inclusion. You can join and leave at any time. People help each other by helping themselves.

About Appytech’s co-operative model

Here at Appytech, we love people. People make the world go round. In September 2013, the government registered a new class of employee, with a legal status dubbed ‘employee shareholder.’ Such a status allows an employee to realise a proportion of their income tax free. We operate using co-operative principles,meaning that a proportion of our workers get to influence and participate in the growth of the business. Appytech’s workers are acknowledged as individuals and we are on first name terms with all of them, and our model enables members to achieve the best return possible bearing in mind their contractual arrangements and HMRC’s guidance. People might make the world go round, but money does too.

Co-operative going mobile

Appytech are a hybrid of old co-operative principles and new technology. Our app enables our busy, jet-setting workers to have access to everything they need in the cloud. Automated systems ensure invoicing, payroll and tax calculations are performed promptly, accurately and safely. Our app allows workers to raise and view past invoices, view payslips at any time and review assignment information. Because we are a new technology, the pricing for our employment platforms are cheaper – and will eventually be free.

 

Posted in Knowledge On September 16, 2016