Did you Know? 5 Facts about Co-operatives in Canada
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- Co-ops are viable corporations formed to address gaps in the marketplace. A co-op is a legally incorporated corporation formed to solve a problem or common need.
- Co-ops are accountable and inclusive. A co-operative is jointly owned by its members, and operate with a democratic decision-making structure and a profit-sharing approach.
- Co-ops are resilient. According to a 2020 survey, 97% of the co-operatives surveyed indicated they had no intention to sell, transfer or close their business in the next 5 years, as opposed to 75% of all SMEs.
- Co-ops are active across Canada in all sectors of the economy including: manufacturing, technology and renewable energy. Visit https://crm.canada.coop/en/map to locate a Co-op in your area or anywhere in Canada.
- Co-ops support local economies, keeping money and jobs in the community. In 2022, there were 5,616 non-financial co-operatives in Canada, which generated $66.19 billion in total revenue held $50.5 billion in total assets, employed 102,038 people, and paid $2.86 billion in salaries and wages. Number of co-ops by province and territory were: 42 Territories; 482 British Columbia; 496 Alberta; 372 Saskatchewan; 242 Manitoba; 1,079 Ontario; 2,502 Quebec; 114 New Brunswick; 193 Nova Scotia; 65 Prince Edward Island; 29 Newfoundland and Labrador.
Note: All statistics refer to non-financial co-ops.