DEFINITION OF CO‐OPERATIVE. In its most basic form co‐operatives refer to an autonomous association of persons united voluntarily to meet their common economic and social needs and aspirations through a jointly owned and democratically controlled enterprise organised and operated on co‐operative principles1. Co‐operatives vary from relatively simple organisational structures to extremely complex ones. The definition above is therefore an intended as a basic statement describing the most fundamental principle of a co‐operative. The description does not cater for the most complex and extended forms of co‐operatives. It is intentionally broad in scope, recognizing that members of the various kinds of co‐operatives will be involved differently and that members must have some freedom in how they organise their affairs. This definition emphasises the following characteristics of a co‐operative:
