The Entrepreneurs Cooperative stimulate the economy in Wales promote entrepreneurial initiatives create “proper” jobs

The Entrepreneurs Cooperative Key Aims To contribute to economic growth in Wales. To generate jobs. To enable entrepreneurs to turn their ideas into viable businesses. To enhance work as a means of social and economic engagement as well as a source of income. To advance the concept of business as a social contribution adding value to the community while providing those engaged in it with a fair living.

The Entrepreneurs Cooperative Credit Union and commercial finance Underwritten by Welsh Government Mix of new and established small businesses Employees members of the Cooperative Coop provides central back office services Each business run by its own project management team Mix of ownership models possible Profits shared with each business Dividends equal for all members

The Entrepreneurs Cooperative Why do this??? Everywhere: Banks won’t release capital Wales: lowest level of business start-up lowest per capita income lowest rate of research and development second lowest level of productivity We need the stimulus more than most

The Entrepreneurs Cooperative Psychology Source of capital Shared risk Strong support Help with development Downside Loss of personal control Concept of shared ownership (for some)

The Entrepreneurs Cooperative Risk high risk of failure for start-ups Balanced portfolio Reduced competition Depressed market WG underwriting Research focused on risk

The Entrepreneurs Cooperative Key Principles 1.A project must be commercially viable. 2.Employment commensurate with outlay. 3.The project must “do no harm”. 4.Priority to areas of high unemployment. 5.Development and training for staff. 6.Good fit with others in the local community.

The Entrepreneurs Cooperative Current Position Steering Group developing and testing concept Exploring funded research into risk & cost Next Steps Incorporation Political Support for Developed Project Funding Conference