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5 Role of coops in Economic Development.pptx

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2 de Mar de 2023
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5 Role of coops in Economic Development.pptx

  1. Role of Cooperative in Economic Development? Part 5 Josefina B. Bitonio,DPA IGPS – LNU Dagupan City
  2. Micro, small and medium enterprises (MSMEs) have a very important role in developing the Philippine economy. They help reduce poverty by creating jobs for the country’s growing labor force. They stimulate economic development in rural and far-flung areas. They serve as valuable partners to large enterprises as suppliers and providers of support services. They serve as breeding ground for new entrepreneurs and large corporations. A vibrant MSME sector is thus an indication of a thriving and growing economy.
  3. Financial cooperatives are some of the largest providers of microfinance services to the poor. Financial cooperatives thus play a central role in the achievement of an inclusive financial sector that encompasses the poor.
  4. Through their commitment to servicing the poor and underserved, financial cooperatives are helping to lessen the burden of poverty. Financial cooperatives, by providing savings products, help to reduce members’ vulnerabilities to shocks such as medical emergencies. commitment
  5. Cooperatives have also been instrumental in promoting inclusive development in rural areas, helping to both strengthen and diversify rural economies.
  6. Financial cooperatives provide access to credit for members who might not typically have access to the larger savings and commercial banks. This is significant in markets where financial providers are absent owing to poor revenue prospects, high risks, or high transaction costs. This access to financial services often supports the formation of small and micro businesses.
  7. Cooperatives have also been able to strengthen agricultural production and improve access of poor farmers, especially through engaging in fair trade arrangements. Small farmers who struggle to create and sustain businesses of their own are able to increase farm revenues, lower marketing and information-gathering costs, as well as enter into high-value supply chains that they would not be able to do on their own.
  8. Conclusion • As governments around the world cut services and withdraw from regulating markets, cooperatives are being considered useful mechanisms to manage risk for members in agricultural or other similar cooperatives • Strengthen the communities in which they operate • Cooperatives generally provide an economic boost to the community as well.
  9. In an era when many people feel powerless to change their lives, cooperatives represent a strong, vibrant, and viable economic alternative.
  10. • Cooperatives are specifically seen as significant tools for the creation of decent jobs and for the mobilization of resources for income generation. • They contribute to sustainable human development and have an important role to play in combating social exclusion.
  11. • Achieving economy of size, • Improving bargaining power when dealing with other businesses providing them, among others benefits, higher income and social protection • Purchasing in bulk to achieve lower prices, • Obtaining products or services otherwise unavailable • Access or broadening market opportunities • Improving product or service quality, • Securing credit from financial institutions • Increasing income • Regardless of the type, size, geographical location or purpose, cooperatives provide a unique tool for achieving one or more economic goals in an increasingly competitive global economy.
  12. The need to promote the business potential of cooperatives so they can contribute to sustainable development and decent employment, in the context of the urgent need for social justice. Empowering cooperatives to leverage their capacity to contribute to social justice requires a sound policy and legislative framework How?
  13. Raise awareness of the cooperative enterprise model and its potential contributions to social development.
  14. The sound governance of cooperatives depends upon a well-informed and active membership base, dedicated to cooperative values and principles. To sustain the drive of cooperatives for social justice, a strong membership base, bound by the democratic one-member-one-vote principle, is essential to addressing weak or unethical management, or other conflicts of interests which could divert cooperatives from addressing social justice issues.
  15. To be effective it need to be comprised of nine principles. These nine principles are: 1. Need to have a multi-faceted and comprehensive strategy 2. Need to strengthen community ownership 3. Need to secure access to credit for local businesses 4. Need to build human resources (leadership development, literacy development, employment supports, etc.) 5. Need to build local capacity 6. Need to integrate social and economic goals 7. Need to empower a broad range of the community 8. Need to have sound financial management 9. The process needs to be guided by strategic planning and analysis Bruce (2000)
  16. 23 Years old – Average working age Assistance in : Upskilling Upscaling Youth Development Program
  17. Transition to Digital Economy • The country has seen evident growth of e- commerce and the digital economy during the pandemic, as Filipinos turn to a safer and more convenient methods of purchasing goods, it was imperative for businesses to integrate digitalization in their operations. E- commerce companies and platforms enabled the consumer market to thrive during the pandemic. Filipino consumers now adapting to a more digital way of life. Coupled with the continued economic growth, the Philippines is a major focus for digital transformation. Marcos administration to ensure economic recovery | Philippine News Agency (pna.gov.ph)
  18. By virtue of the principles of co- operatives, there is an integral relationship between a cooperative at its community. Often not, cooperatives are acknowledged as playing a role in community economic development, cooperatives are essentially a response to community development opportunities or challenges.
  19. ICA Vision 2020 These critical themes are: 1 Elevate participation within membership and governance to a new level 2 Position co-operatives as builders of sustainability 3 Build the co-operative message and secure the co-operative identity 4 Ensure supportive legal frameworks for co-operative growth 5 Secure reliable co-operative capital while guaranteeing member control
  20. Cooperatives are already playing a strong role in the economies of local communities.
  21. Reference • https://uncoopsyear.wordpress.com/category/cooperatives-in-social- development/
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