Co-operatives: Formation meeting

Before registering a co-operative, a formation meeting needs to be held with all persons that are interested in establishing the co-operative.

• The Chairperson outlines the aims and objectives of the proposed co-operative
• The Chairperson answers all the arising questions
• The Chairperson invites everyone to join
• Those interested should be given an application form for Membership to complete
• The persons that have completed the above-mentioned application form decide how many persons will be required to manage the co-operative
• The members will then elect the board of directors (the board of directors will be the management or steering committee of the co-operative)

 Also discuss and agree on the following:

• The Objectives (exactly what the co-operative will do)
• The equipment, premises and other materials needed by the enterprise
• Where will the premises (co-operative office) be located
• How will the co-operative be financed? How will the funds be obtained?
• Draw-up an initial business plan
• Choose a name for the co-operative (propose and choose alternative names).