Advantages of co-operative societies
Answer Text: Advantages of co-operative societies:-Since the properties of co-operatives are owned collectively, they are able to serve the interest of the members effectively-They have limited liability-Membership is free and voluntary-Members share profits of a co-operative through dividend that are given-They have improved the standards of living of their members through increased income from their produce and through savings from incomes.-Co-operatives benefit their members through giving them credit facilities and financial loans which they could not have got from local banks-They are run on a democratic basis i.e. all members have an equal chance of being elected to the management committee.
Get premium membership