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Merits of Co-operative society

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Merits of Co-operative society

Posted by Súfyāñ Khan 5 years, 7 months ago

CBSE > Class 11 > Business Studies

1 answers

Yogita Ingle 5 years, 7 months ago

Merits:

Ease of formation: It can be started with minimum of 10 members. Registration is also easy as it requires very few legal formalities.
Limited liability: The liability of members is limited to the extent of their capital contribution.
Stable existence: Due to registration it is a separate legal entity and is not affected by death, lunacy or insolvency of any of its members.
Economy in operations: There is economy in operation due to elimination of middle man and voluntary services provided by its members.
Government support: Government provides support by giving loans at lower interest rates, subsidies and by charging less taxes.
Social utility: It promotes personal liberty, social justice and mutual cooperation. They help to prevent concentration of economic power in a few hands.

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