Co-operatives UK urges more communities to consider collective ownership models
Between January and June 2020, UK high streets saw a net closure of 6,001 chain store outlets – a record high, and nearly double that of the first half of last year (2019: 3,509). This decline was underway before the Covid-19 crisis, but there is no doubt that the pandemic has sped up the reshaping of our towns and cities.
Co-operatives are often cited as the more resilient business model when compared with traditional companies. Co-operatives UK’s 2020 Co-op Economy Report revealed that co-ops have almost double the chance of surviving their first five years: 76% of co-ops (up from 72% in 2019) are still operating after half a decade, compared with 42% of all new companies.