The Co-operative Economic Secret

Co-operatives have the potential to revitalise the economy in Wales providing thousands of decent jobs and offering better resilience than mainstream businesses, according to a report prepared for the Wales Co-operative Centre by the Bevan Foundation.

The report, launched today at the Senedd with Edwina Hart AM MBE Minister for Business, Enterprise, Technology and Science, highlights the important contribution of co-operatives of all kinds to the economy and employment in Wales, and argues that co-operatives have the potential to transform Wales’s economic prospects.  The report’s launch also celebrates the start of the UN International Year of Co-operatives and marks the 30th anniversary year of the Wales Co-operative Centre.

Speaking at the launch, Victoria Winckler Director of the Bevan Foundation said “Co-operatives need to be at the centre of efforts to regenerate the Welsh economy. Hard evidence shows they have weathered the recession better than other businesses, that their jobs are better quality and more firmly rooted in the local economy, and that they have a stronger sense of corporate social responsibility.” Other speakers were Ed Mayo, CEO of Co-operatives UK, and David Jenkins, Chair of the Wales Co-operative Centre.

The report is available here and more information can be found at www.walescooperative.org