Are co-operatives popular in your areas?

[Kane]

Cooperatives are joint venture organizations, on a small scale, formed by a group of people to perform trade or business. All the members of the cooperatives are the owner of the company. The concept of cooperative originated in England in 1844, however, these days cooperatives are mostly popular in developing countries. Saving and lending cooperatives are very popular in our country. These organizations mostly work in the rural areas.

 

[Good-Person]

Cooperatives are joint venture organizations, on a small scale, formed by a group of people to perform trade or business. All the members of the cooperatives are the owner of the company. The concept of cooperative originated in England in 1844, however, these days cooperatives are mostly popular in developing countries. Saving and lending cooperatives are very popular in our country. These organizations mostly work in the rural areas.

Co-operatives are popular in our country. However, there are many people who have a really harder time trusting such kind of companies. This is because such small companies could prove to be fraudulent in many cases.

 

[Kane]

That's quite true. In recent times, cooperatives in our country are failing to give back the consumers' deposits. However, cooperative, if managed properly, can help lower income families in many ways. Cooperatives are very useful in small towns and villages.

 

[Heatman]

Some years ago, they used to be very popular in my country and people who are involved in it usually take it very seriously because of the financial benefit they get from their members. But recently, it is as if that those people who are managing it have now become fraudulent in a way that they will collect people's money and disappear without paying them when they are supposed to pay them.

 

[Good-Person]

That's quite true. In recent times, cooperatives in our country are failing to give back the consumers' deposits. However, cooperative, if managed properly, can help lower income families in many ways. Cooperatives are very useful in small towns and villages.

Many co-operative companies are not at all registered and this is one of the biggest concerns of many people. Even if they are registered, then they should be monitored and held accountable. These business ventures could be profitable because they are able to raise funds through different kinds of investors. However, the way they run the company is quite important in order to determine the profitability.

 

[Heatman]

Co-operatives are popular in our country. However, there are many people who have a really harder time trusting such kind of companies. This is because such small companies could prove to be fraudulent in many cases.

There are so many people in my country who have also had such bad experiences with co-operatives and it has made those kind of projects to become something that is not trustworthy to a lot of people. This is the reason why most people will simply prefer to put their money in their bank account and use it whenever they want to use it and not start getting stories when they put the money in co-operatives.

 

[Good-Person]

There are so many people in my country who have also had such bad experiences with co-operatives and it has made those kind of projects to become something that is not trustworthy to a lot of people. This is the reason why most people will simply prefer to put their money in their bank account and use it whenever they want to use it and not start getting stories when they put the money in co-operatives.

The main problem with many co-operatives is the fact that they are not regulated and they are a part of various different businesses. In fact, some of them also claim to be construction company and they also claim to be a part of rel estate companies as well. This is why it is hard to recognise the scam companies.

 

[Frank]

Co-operatives are popular in our country. However, there are many people who have a really harder time trusting such kind of companies. This is because such small companies could prove to be fraudulent in many cases.

It is always advisable to go with the ones that are always going to stay true to the objectives of the cooperative. There are definitely going to be some of them that will run away with your money. So, it is important to do background checks before deciding to go with any one of them.

 

[Heatman]

The main problem with many co-operatives is the fact that they are not regulated and they are a part of various different businesses. In fact, some of them also claim to be construction company and they also claim to be a part of rel estate companies as well. This is why it is hard to recognise the scam companies.

Exactly! This is just the problem with making use of co-operative services. The owner can wake up one day and decide to pull the plug on the business and then disappear with people's money. There's no way of getting them to pay back what they stole. It's a mini ponzi scheme if I would call it that.