EOA has made a submission to the Senate Enquiry in the role that cooperatives, mutuals and member-owned firms play in the Australian economy.
In the submission, EOA contends that the following will need to be considered:
- Increased diversity in ownership forms is essential to a more sustainable economy and to a fairer and more and equitable society.
- Reporting on the benefits arising from more broadly owned business forms will be essential to measuring the success of economies and societies in future.
- More businesses operating to the International Cooperative Principles will be key to the resilience and stability of economies in future.
- Broader stakeholder ownership could:
(i) Help re-balance the economy
(ii) Drive increasing prosperity through distributing wealth more broadly
(iii) Enhance business accountability and performance
(iv) Re-invigorate civil society and increase community well-being
(v) Create more satisfying, productive and happier workplaces.
To achieve these outcomes, EOA made four recommendations for the consideration of the Senate Committee, as can be seen in the “Submission”.