Published: 26th Jun 2018

New co-operatives are almost twice as likely as start-up companies to survive their first five years, according to a new study. The UK Co-operative Economy 2018, which has been published today (26 June) by trade body Co-operatives UK, reveals that just 44% of companies survive the difficult early years while 80% of co-operatives are still going strong. According to the report, after the first year 93% of businesses remain in existence. There is a marked drop to 76% after the second year followed by another significant fall to 61% after year three. Co-operatives are far more resilient with a survival rate of 96%, 91% and 87% after the first, second and third years of existence respectively. The report also reveals that 7,226 independent co-operatives operate across the UK, ranging from well-known retailers like The Co-op and John Lewis to farmer-owned businesses, community sports clubs and web developers. Their combined turnover … (To read the full article, subscribe below)