Advantages of Primary Industrial Cooperative Society

Advantages of Primary Industrial Cooperative Society

Advantages of Primary Industrial Cooperative Society

The collection of people who are engaged with small and cottage industry a cooperative society is established for them is called primary industry cooperative society. To get prosper mutual improvement in the industrial sectors is formed the primary industrial cooperative society.

Primary industrial cooperative society is conducted for the betterment of its members. Various kinds of advantages are discussed below in various kinds of viewpoints. These are discussed as follows-

Gaining large-scale business advantages: All kinds of occupying people produce the product combined with which the advantage of the large-scale business. They also get purchase and selling advantages as well. So, it is easy to get a large scale business advantage.

Increasing income: By doing the large-scale business, members personally to be the owner of the business. So they are very attentive toward their tasks which increase huge profit as well as handsome income.

Reduction of cost: Owners accomplish the task just like a labor in such organization. Besides large-scale production, purchase and selling reduce the production and marketing cost.

Low product price: Production and marketing cost is low so products can be bought at the low price well.

Marketing advantages: Competition is gradually decreasing among the small businessmen due to establishing the cooperative. So production can be premised to assume the market demand and products also marketed by the organization.

Maintaining self-existence: It is easy to maintain self-existence by establishing the cooperative society to protect self-existence from producers and middlemen.

Reducing unemployment problem: This cooperative is not only established to protect self-existence but also enrich the financial ability of the members. That’s why they take new project and activities as well. Consequently, it creates a new scope of jobs and reduces the unemployment problem in the society.

Establishment of good industrial relations: It is mentioned that owners are the labor in this organization. So there is no scope to create confliction between labor, and owners and maintain good relations with each other.

Above mentioned advantages give the extra popularity of this organization. Day by day it becomes more popular than others cooperative society.