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How to start cooperative society?

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Question added by sulaimon bello , planner , spark west
Date Posted: 2013/09/28
Jemal Mahmud Alemayehu
by Jemal Mahmud Alemayehu , Rural Finance Specialist , Islamic Development Bank

Cooperation is an inherent charactor of human civilization. The history of cooperation among people stretched back to the priod when human being started to live, hunt and defend collectively.  From this one can conclude that cooperation is prevailing in our day to day movement. In the modern day, cooperatives are establish with the objective aimed at addressing social and economic propblems. As the cooperatives are owned, controlled and used by the members, the first step to establish cooperative societies is to identify a group of people with simliar interest, ensuring they are volunteer and have defined objective to tackle the problem collectively. Once they agreed to work collectively, they can be assisted to develop their own by-law or constittution whereby they will manage the day to day activities. Collection of share capital, election for board members and registration in the authorized government agency are also integral steps of their establishment.  I think these are the most fundemental steps to start with establsihing cooperative societies.

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