The Seven Co-operative Principles and How We Follow Them
A co-op is a business or organisation that is democratically owned and controlled by its members, to meet their shared needs. The members can be its customers, employees, residents or suppliers, who have a say in how the co-op is run.
Every co-op across the world shares the same co-operative principles and values.
Friends of The Ivy have been keen to embrace this philosophy from the outset, because that’s exactly what we want to do: save The Ivy to meet the shared needs of our community!
Co-operatives UK lists seven essential principles that govern co-operatives, and we will follow these principles throughout our community pub project. The headings below explain how.
We Are Owned and Controlled by Our Members
Friends of The Ivy Limited is a Community Benefit Society (CBS) registered with the Financial Conduct Authority (FCA). It is a not-for-profit community pub business model, owned by its members, and is run according to a set of Rules approved by the FCA.
A member is an individual that owns at least 100 shares purchased for £1 each.
Members elect a Management Committee to oversee the day-to-day administration of the society. Members attend regular meetings, including the Annual General Meeting (AGM).
We Are Democratic: Each Member Gets One Vote
Anyone who owns at least one hundred £1 shares is a member of the co-operative. The maximum number of shares that can be owned by any person is 20,000.
When there are key decisions to be made, including election of the Management Committee, each member gets one vote. Any conflicts of interest have to be declared by prospective members of the management committee prior to their being elected.
Every Member Has Contributed Financially
We Are Independent
We will remain an independent business, operated by a Management Committee elected by the members.
Friends of The Ivy was originally formed to ensure that the community voice was heard by the owners of The Ivy. As we transition to becoming a community-run pub, this principle is more important than ever.
We Will Offer Training and Education to All Our Members
Being a part of a community-run pub is an exciting thing. In addition to being able to maintain the local pub, it’s also an opportunity for many members to learn about how a pub business is operated, and how independent business extends its reach across a wider area.
All members will have the opportunity to learn about and contribute to the business, and in doing so, members will develop skills that will help in other parts of our lives, whether that’s at work or at home.
We Will Work with Other Local Co-operatives
As far as possible, we will use local suppliers, some of whom are also co-operatives. We will work in a mutually supportive way to make our relationships successful and sustainable.
We Will Support the Wider Community
A large part of our vision is that The Ivy will become more than just a pub. It will be a venue with facilities for the whole community to enjoy.
As well as groups that operate within the village, we will engage with local health services, recreational clubs, and support networks that cover the whole of Wiltshire. They will be able to use our facilities as a base from which to offer their services.
