Importance of Co-operative Societies

IMPORTANCE OF CO-OPERATIVE SOCIETIES

1. They can more easily obtain loans from banks than individual farmers without collaterals.
2. They encourage members to produce more. The surplus can be exported to earn foreign exchange for the country.
3. They participate in production. Some engage in extensive farming and other business.
4. They have higher bargaining power in marketing their farm produce than small-scale individual farmers.
5. All the members have equal rights, and the pride of ownership makes them work hard for the success of the society.

   You are viewing an excerpt of this lesson. Subscribing to the subject will give you access to the following:

   • The complete lesson note and evaluation questions for this topic
   • The complete lessons for the subject and class (First Term, Second Term & Third Term)
   • Media-rich, interactive and gamified content
   • End-of-lesson objective questions with detailed explanations to force mastery of content
   • Simulated termly preparatory exams
   • Discussion boards on all lessons and subjects
   • Guaranteed learning
   • Win great prizes for topping the Primacy Ebooks