So, what is a cooperative? According to Merriam-Webster Dictionary, a cooperative is “an enterprise or organization owned by and operated for the benefit of those using its services.” Put simply a cooperative is a business owned and controlled by the people that it services.
This week we are featuring the Kentucky Proud: Farm to Fork Grants, Kentucky State University Small Scale farm Grants, and USDA Rural Business Development Grants.
KCARD is often contacted by individuals and groups that have a business idea and are interested in forming a cooperative. A cooperative can be a great choice and we help people form cooperatives all the time, but many times the cooperative business structure is misunderstood and people have the wrong idea about what a cooperative is and when it is the right business structure.