Co-operatives offer Canada economic opportunity
Canada is faced with a watershed moment as we reorganize our economy in response to economic attacks from our largest trading partner, but also to ongoing complex crises of affordability, housing, climate, political polarization and international conflicts.
Business as usual will not solve these challenges. In fact, it’s what’s got us where we are now. It’s time to change course.
Canadian co-operatives can help us safeguard and promote Canadian interests amid a shifting global landscape.
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It’s time we prioritized Canadian purchasing and procurement, including the products and services offered by co-operative enterprises, which directly stimulate local economies, sustain jobs and reinforce community resilience.
They act as pillars within communities, with a third of co-operative enterprises headquartered in rural and remote areas, and many more serving members and facilities in those areas.
Co-operatives offer a different approach to business, one focused on meeting people’s needs. Whether they’re non-profit (58 per cent) or for profit (42 per cent), they exist to fulfil common economic, social or cultural aspirations of their members.
Co-operatives can be found in every corner of Canada and in almost any economic sector. They have been improving Canadians’ lives for over 150 years.
Today, they are an integral part of our national fabric, with 10 million Canadians belonging to a co-op, credit union, caisse or mutual, and 57 per cent of Canadians expressing a deep connection to co-op values.
Investing in co-operatives keeps wealth circulating locally, promotes democratic participation and fosters inclusive growth that benefits all Canadians.
The co-operative model is a community-driven, needs-based approach that fosters resilience, innovation and local economic empowerment.
In a shifting global economy and polarizing environment, co-operation is more crucial than ever for Canadians’ economic security and well-being. Co-operatives offer a different economic model — one that is already thriving and has proven its value but can do much more.
Co-operatives are resilient and successful, with for-profit non-financial co-ops having five- and 10-year survival rates, double that of traditional small and medium-sized enterprises (SMEs).
Seventy per cent of them are more than 20 years old. They are also dynamic, with for-profit non-financial co-ops adopting more advanced technologies and demonstrating higher levels of innovation compared to other SMEs.
In our age of uncertainty and disruption, co-operatives are a way for Canadians to have more control over our lives, offering stability and security.
We can reinforce our economic sovereignty and meet pressing needs, whether it’s for housing, food security, health and social care, energy, financial services or many other priorities, by investing in the co-operative model.
In 2017, a private member’s motion recognizing the important role co-operatives play in the Canadian economy, including a commitment to take concrete steps to ensure that they continue to thrive, received unanimous support in the House of Commons. A robust strategy and set of recommendations was crafted based on consultation with provincial and territorial governments, Indigenous communities and the co-operative sector.
Unfortunately, many of these recommendations remain unfulfilled. Now is the time to take action.
2025 has been declared the International Year of Co-operatives by the United Nations.
The United Kingdom government has committed to doubling the size of the co-operative sector because it works. It’s time for Canada to build on our own co-operative successes.
It’s time our governments commit to creating a more enabling environment for these collective enterprises to grow and thrive across the country.
Canadians deserve an inclusive, resilient and prosperous future. Co-operatives can make that happen. Let’s do it.
Michael Toye is executive director of Co-operatives and Mutuals Canada and chair of the Social Innovation Advisory Council. This article was edited for length.
Source: producer.com