Co-operatives and member owned businesses are an under-recognised sector of the nation’s economy," BCCM Chair and B20 Member, Dr Andrew Crane said. "Australia has 1700 member owned businesses providing numerous benefits to their 13 million members. We are pleased to highlight the contributions of co-operatives and mutuals and the ways in which they excel in creating shared value by reinvesting all profits back into the economy through their members. Co-operatives and mutuals are also big investors in Australian infrastructure from ports, rail and irrigation systems, to road, housing and manufacturing plants. Mutual ownership of infrastructure was recognised in the B20’s Recommendations to the G20 Leaders."

The top 100 data was drawn directly from a study commissioned by the Business Council of Co-operatives and Mutuals and undertaken by the University of Western Australia called Australia’s Leading Co-operative and Mutual Enterprises 2014.

The Report found that within the top 100, mutual insurers were the biggest part of the sector with $7.6 billion in combined turnover and $10.7 billion in assets, followed by agriculture and then banking and finance. 

“If Australia had a ‘ninja’ economy it would be the mutual economy. Member owned businesses excel in their chosen area of the market economy but the sector is largely unseen,” Melina Morrison, CEO of the Business Council of Co-operatives and Mutuals, said.

“For example, 40 per cent of Australia’s grain crop and 35 per cent of the blueberry crop is marketed by co-operatives. Australia’s largest supplier of textbooks is a co-operative and almost a quarter of Australia’s automotive parts are purchased by the co-operative sector. Australia’s largest dairy company is a co-operative.

“The role of co-operatives and mutuals in a sustainable economy is starting to become part of mainstream Government thinking. The Federal Government’s Agricultural Competitiveness Green Paper recommends the development of more farmer-owned co-operatives to ensure sustainable pricing at the farm gate and more competition in the supply chain,” Morrison said.

A Sector Blueprint was also launched at the Summit, calling on all political parties to sign up to a Mutuals Charter ensuring government policies do not neglect or prejudice the contribution of co-operative enterprise. The Blueprint is endorsed by the country’s leading co-operative and mutual organisations.

Source: probonoaustralia.com.au