Youth Networking Session: Setting up a Co-operative

Jointly organised by the SFCCA Youth Committee and the Singapore National Co-operative Federation (SNEC), the “Youth Networking Session: Setting up a Co-operative” talk was held on 30th November 2019, at SFCCA Multi-Purpose Hall @ Level 2. 70 people attended the event.

70 members of the public attended the talk to gain a deeper understanding of co-operatives.

Speakers from Singapore National Co-operative Federation (SNCF) defined co-operatives as a hybrid between corporations and charities, generating profit while also doing its part in helping the society.

The speakers shared their wealth of experiences in Co-operative matters with the participants

The speaker pointed out that co-operatives in Singapore can be divided into 4 types, namely Credit Co-operatives Sector, Campus Co-operative Sector, Service Co-operatives Sector and NTUC Co-operatives Sector. They provide financial assistance and societal benefits in the different sectors to the public.

Participants actively raised questions about setting up Co-operatives

The steps to setting up a co-operative is to first prepare a business plan, provide a 3 year financial estimate and apply to the Registry of Co-operatives Societies. Co-operatives can also apply for development grants such as CCF Development Grant or the Capacity Development Grant.

Group photo of the organising committee and the speakers from SNCF

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