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).