This is your co-operative!
What does this mean?
- Planta Medica is the first herbal product manufacturing co-operative.
- All members have an equal say in how the business is run.
- Members choose what to do with the profits.
What are the benefits to members?
- Reduced prices for members.
- Practitioner control & input.
- Long term stability of supply through shared ownership.
- Raising standards through innovation.
- Members choose their level of engagement.
What are the benefits to the community?The herbal medicine community benefits from profit distribution as decided by the membership.
- support for education
- support for research projects
- any other projects agreed by the membership
- Improved patient outcome from enhanced quality
- Inceased connection between practitioners and their herbal products
The key to the success of Planta Medica is you!Here is the link to the Planta Medica Terms and Conditions: Planta Medica Terms and Conditions
Co-operatives give people control over things that matter to them. Co-operative principles enable communities to thrive.
Ed Mayo, Secretary General of Co-operatives UK puts forward the case for economic co-operation as an effective business model for many 21st Century companies in an article in the Huffington Post (www.huffintonpost.co.uk). He writes that in the 20th Century, competitive advantage stemmed from restricted access to knowledge and resources. However with the rise of online connectivity and information sharing many business are realising that collaboration is the way forward with new value emerging from knowledge, relationships and co-operation.
So What Is A Co-operative?
- A co-operative is a business owned and run by its members, whether customers, staff, suppliers or residents.
- Members have an equal say in how the business is run.
- Members choose what to do with the profits, whether distributing among the membership, reinvesting in the business or giving to the community.
And What Are the Benefits of Co-operatives?
- Shared ownership gives people a stake, creating greater engagement, interest and concern for the long term interests of the business.
- Shared ownership boosts productivity by making employees, suppliers and customers work harder to support the business. Studies show that the commitment ownership brings works because people have invested emotionally and financially in the business.
- Shared ownership harnesses innovation by giving those who understand the business best a reason to contribute to its development. There has been a move towards participation across the business world as companies try to harness the ideas of those close to the frontline – the employees and customers. When these people are also the owners there is an incentive, and a reward, for contributions.
“The co-operative movement is a dynamic, creative mindset that roots long-term social value inside financial value. When you accord each individual the dignity of ownership you unleash creativity and innovation on a scale few traditional business leaders dare dream of.” Margaret Heffernan, A Bigger Prize, 2014
For more information about the co-operative model and its advantages see the Co-operatives UK website www.uk.coop
Co-operatives in Law
Planta Medica has been set up as a Multi-stakeholder Co-operative under the Co-operative and Community Benefit Societies Act 2014 and we’re regulated by the Financial Services Authority. We chose a multi-stakeholder model as this allows various people to become members, whether they are employees, suppliers, customers etc.
To read the full copy of our rules (co-op mem & arts) please click on this link – Herbal Rules PDF .
Our rules have been drawn up with the assistance of Ian Wilson, Business Adviser at CASE (www.case-da.co.uk) CASE provide advice, training and support for people wanting to set up co-ops and social enterprises in Leicestershire and the East Midlands. They will continue to support us as we grow and they are also able to act as mediators if there were ever any serious disputes which couldn’t be resolved within the membership.