The Irish Co-operative Organisation Society (ICOS) background and knowledge in the co-operative movement benefits those wishing to set up new co-operatives. In fact we try to make setting up a co-operative as easy as ABC! ICOS lists the following steps to assist when accessing the viability and suitability of the proposed enterprise as a co-operative.
Pull together a group of people (minimum of 7) to ascertain and define the common economic need.
Draw-up a comprehensive business plan for the proposed co-operative enterprise.
On the basis of the business plan is the co-op commercially viable? Will it at least break even annually?
Determination of commitment
Determine the level of financial commitment from the group members of the co-op.
Enlisting member support
What is the proposed financial input by the individual members?
File a request with ICOS
Seek the assistance of ICOS to determine the suitability of the proposed enterprise as a co-operative.