Cooperative Ownership

According to Nembhard, a cooperative is a company founded by individuals who band together to address a certain need (107). He explains that cooperatives boost low-income earners' income by cutting the cost of necessities such as housing, food, and energy. This technique is realized through cooperative fundamental principles such as democratic involvement, community capital control, cooperative cooperation, and autonomy.

Consumer cooperatives

are created for the benefit of customers of a certain commodity, whereas housing cooperatives offer members with dwelling. Worker cooperatives acquire and operate enterprises by combining member equity and financing (Nembhard 109). Their closeness to the community and democratic governance enables cooperative development hence quality asset building and wealth creation.

The existence of cooperatives

is, however, less prevalent. This can be accredited to a number of challenges. Iuviene, et. al. explains that a cooperative should admit the challenge of recruiting skilled managers and creating clear proportional pathways of worker-owners into leadership (16).

According to Gute, et. al.

in his study on the vida verde women cooperative points that "A high point was an invitation from the Danish government in April 2008 to share information on the launch of the co-op" (497). This publicity of cooperatives and skilled leadership would help solve the various challenges faced by cooperatives.

In –°onclusion

cooperatives are major asset building institutions in a growing community. Its growth is limited due to challenges they face. Proper leadership and education are essential for their success.

Works Cited

Nembhard, Jessica Gordon. "Community-Based Asset Building and Community Wealth." The Review of Black Political Economy 41.2 (2014): 101-117.

Iuviene, Nicholas, Amy Stitely, and Lorlene Hoyt. "Sustainable economic democracy: Worker cooperatives for the 21st century." A publication series produced by the MIT Community Innovators Lab with support from the Barr Foundation (2010).

Gute, David M., et al. "The Vida Verde Women's Co-Op: Brazilian immigrants organizing to promote environmental and social justice." American journal of public health 99.S3 (2009): S495-S498.

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