Advantages of Cooperative Society
Cooperative society was originated from the word of co-operating which indicates assistance. Society means association or collection of a group of people. So, It means assistance of the society where a few people create a democratic institution voluntarily. Cooperative society has huge advantages by which every society can help to the development of the society and nation. These are as follows:
Establishment of the living standard: It creates an opportunity to earn the low-income earner people that’s why they get chance to establish of living standard.
The increase of dignity of the members: It enriches the self-dependency and dignity among the members of cooperative society. Their social status increases because of the establishment of unity and equity among themselves. It also leads fanatical solvency all members of cooperative society.
Reducing of inequality of wealth: It increases the income level of poor and helpless people of the society. As a result, social equality will be protected.
Elimination of middlemen: Middleman generates huge profit from the other traditional business. Poor producers would be united tinder a cooperative society. So middlemen are eliminated gradually and all profit goes to entrepreneurs.
Removal of class difference: Class difference have been built-up among rich-poor, religion, race, group, subgroup and so on which is negative for the society. It eliminates class difference and improves the environment for unity, cooperation.
An advantage of large-scale business: Through the cooperative society a large scale business can be established easily, just combining little capability of the members. Large-scale business creates large-scale buying, selling, as well as producing which switch to earn rapidly.
Encouraging savings: It tries to best to encourage savings its members. Saving helps to invest and key to earn a profit.
Advantages of loan: Members can collect the loan from the organization against low interest, which helps them to protect from lenders and middlemen.
Advantages of training: It arranges various kinds of training which help them to be efficient and skillful. Training creates leadership in the society.
Limited liability: The vital advantage of cooperative society that each member’s liability is limited to their purchased share. That’s why poor people can invest in this society easily.
At last, we can conclude that above mentioned advantages encourage different professional people towards cooperated society. It is obviously a popular organization among low earners people.