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CDS welcomes UK's first 'formula for co-operation'
Co-operative Development Scotland has welcomed the launch of the UK's first 'formula for co-operation'.
The formula – Sc * (Ci + Mt) = Co – has been launched as part of Co-operatives Fortnight (19 June – 3 July 2010) to identify the potential of co-operation for businesses and the economy.
Co-operative sector nudges £34 billion
Co-operative businesses in the UK have increased their combined turnover by 15.8% to almost £34 billion over the last year, according to latest figures.
This considerably bucks the trend of UK PLC, with GDP down 4.9% over the same period.
Co-operation can grow Scotland's economy
Scotland's economy would grow significantly if there were more co-operative and employee owned companies, according to Co-operative Development Scotland.
The Scottish Enterprise subsidiary is urging local entrepreneurs to explore co-ownership as part of the UK's first Co-operatives Fortnight from 19 June to 3 July.