The traditional approach when starting a business has
been to go it alone and set up as a sole trader.
However, this poses certain problems and risks and
there are alternatives such as joining a co-operative or credit
union.
A co-operative is an easy way for two or more people to go into
business together as they reduce personal financial
risk.
In these organisations, everyone who works for the business is
given a say in how it is run and a share in the profits and
ownership.
An organisation called Avon CDA specialises in helping set
up co-operatives in the North Somerset area and can be contacted
via email at info@cda.coop
or on 0117 989 2536.
Alternatively, for further information on co-operatives visit
the Co-operatives
UK or Co-operative
College websites.
Credit unions are democratic, profit-sharing, financial
co-operative offering convenient savings and low-interest loans to
their members.
The members own and manage the union providing a convenient and
easy route to financial services and to learn new skills along the
way.
They also help revive local economies by keeping money within the
community.
The North
Somerset Credit Union is an example of this in action
and can be contacted via on 01934 429 573.
Or, for more information on credit unions visit
the Association of British Credit Unions
(ABCUL) and
UKCreditUnions (UKCU) websites.
