If you are looking to start a cooperative business in the future, it can be helpful to understand how cooperative businesses work. In cooperative businesses, there is a system of mutual cooperation and shared decision-making that allows members to manage the company as a team. The best definition of this kind of business is given by Wikipedia:
“Cooperatives are dedicated to meeting the needs and interests of their members. Cooperatives take in members with any number of commonalities such as gender, education level, profession, where they live or work.”
Cooperative businesses can be small one-person operations or large international companies operating within countries or worldwide.