You could choose to run your business as a cooperative.
This form of trading identity would be best suited to a group of hobby enthusiasts wanting to set up their own business where the business assets are all owned by the workforce. Or if this is not possible immediately, then it must be the aim of the cooperative to own them eventually.
What makes a cooperative different from other businesses?
1. The management, business objectives and use of the assets must be controlled by the workforce.
2. The assets of the business must be owned by the workforce, or it this is not possible, it must be the aim of the cooperative to own them eventually.
3. The only reward for investing money for a cooperative can be interest on the loan. Any profits arising as a result of any investment should be shared amongst the workforce.
4. The cooperative should only be disbanded if all its members agree.
It’s unlikely that a home-based business would choose to form a cooperative.
However it’s possible that a group of home-based businesses might want to form a cooperative to produce their own goods or services etc, such as a group of candle makers, craft workers, artists etc.
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