Cooperative is a free union of persons united voluntarily to meet their economic, social and, cultural aspirations through a mutually owned and demographically governed enterprise.
Corporate investing entails putting back the profit cash of your business, instead of drawing it as income or holding it in cash bank accounts. Withdrawing money in and paying the least amount of taxes as required by law.
Investing money back into your business allows it room for growth as some of this money is derived from retained earnings or new infuse into your business.
These are some of the benefits of investing into Cooperative Sector:
Business can be fussy, as most enterprises fail as a few last forever. However, cooperatives do better twice the traditional businesses. this is because when the business atmosphere gets murky cooperatives are available for reinvestment in order to to improve services, and work together to find a way forward.
Employee turnovers are a hit, as it creates huge expense for companies.
Knocking their bank accounts and hurting their productivity. Experts suggest improving retention by encouraging employee engagement.
This can be through maintaining competitive wages, cultivating an employee’s sense of ownership, and giving employees the chance to participate in decision making.
While traditional businesses have to find ways to work these practices, cooperatives have these values infused into the structure.
Employees get to own the company literally, and participate in decision making, while earning higher than average wages. Because of this, worker-owners have a 53% higher median job tenure.
A culture of innovation is fostered by Greater autonomy combined with shared responsibility and promise of shared reward.
It’s no wonder, then, that employee-owned cooperatives are more productive than traditional companies.
Finally, consumers like dominating cooperatives over traditional businesses, as they find cooperatives more trustworthy, ethical, and accountable, and prefer patronize them if given the option.
Earlier on, during the US-Africa summit held in Washington, President William Ruto sealed the Us-Kenya economic ties, as the conference offered a window for US to mend strategic relationships.
The President delivered a statement of his own on boosting trade and investment between Africa and the US.
“Kenya and the United States of America are united by their shared commitment to democracy, economic prosperity and regional peace. We will continue working together to expand our strategic partnership for the mutual benefit of the citizens of our countries”.
“Ruto’s economic agenda is built around expanding productivity in sectors such as manufacturing and agriculture, and the US is seen as a key destination for exports from these sectors. There is also an ambition to reduce import dependency through local production, which would have knock-on effects for China’s major share of imported goods.” the President added.