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Explain any five principles of co – operatives?

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1. Voluntary and Open Membership: Co – operatives are voluntary organisations, open to all people able to use its services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.

2. Democratic Member Control: Co – operatives are democratic organisations controlled by their members those who buy the goods or use the services of the co – operative who actively participate in setting policies and making decisions.

3. Member’s Economic Participation: Members contribute equally to, and democratically control, the capital of the co – operative. This benefits members in proportion to the business they conduct with the co-operative rather than on the capital invested.

4. Autonomy and Independence: Co – operatives are autonomous, self – help organisations controlled by their members. If the co – operative enters into agreements with other organisations or raises capital from external sources, it is done so based on terms that ensure democratic control by the members and maintains the co – operative’s autonomy.

5. Education, Training, and Information: Co – operatives provide education and training for members, elected representatives, managers and employees so they can contribute effectively to the development of their cooperative. Members also inform the general public about the nature and benefits of cooperatives.

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