Industrial Common Ownership Movement
Industrial Common Ownership Movement(ICOM) was a UK national umbrella organisation forworker cooperatives,set up in 1971. It worked to increase the number of worker co-ops in the country.[1]ICOM's model rules for cooperatives, published in 1976, were based on a de-centralised and collectivist concept of democracy.[2]In 2001 ICOM merged with the Co-operative Union to becomeCo-operatives UK.
ICOM is one of the founder organisations of CECOP,[3]the European regional organisation ofCICOPA,the world sectoral organisation for industry and service, and itself part of theInternational Cooperative Alliance.
The Industrial Common Ownership Act[edit]
The Industrial Common Ownership Act that recognised common ownership companies in law was passed by theBritish Parliamentin 1976. The first certificate was awarded toScott Bader Company.[4]The emphasis on common ownership that inhibits the transfer of capital and assets to private interests is what differentiates the UK cooperative model from its continental European counterpart.[5]ICOM had a monopoly on registering UK co-ops under the common ownership model until the late 1980s.[6]
A number of laws were passed by Labour governments to allocate national and local funding to the costs of starting worker cooperatives. This included the setup of the national Co-operative Development Agency in 1978 and the Inner Urban Areas Act 1978. In subsequent years common ownership was promoted as a model to create employment, and approximately 100 local authorities in the UK established co-operative development agencies for this purpose.[7]Funding was also allocated to co-ops through the job creation schemes ofManpower Services Commission.[8]The number of worker co-ops in the UK grew from 100 or so in the mid-70s to 3000 by around 1990.[9]
Industrial Common Ownership Finance[edit]
Industrial Common Ownership Finance (ICOF) was set up in 1973 as a financial arm of ICOM, to allow a revolving loan fund for worker co-operatives. This was needed because worker co-operatives commonly had trouble raising capital since their democratic model excluded the possibility of investment by outside shareholders. In 1976 ICOF received £250 000 through the Industrial Common Ownership Act.[10]The current trading name of ICOF is "Co-operative & Community Finance".
References[edit]
- ^"What are 'the commons' in the 21st century? Interview with Pat Conaty".Lowimpact.org.24 February 2019.Archivedfrom the original on 3 March 2021.Retrieved2 March2024.
- ^Thornley, Jenny,The New Workers' Co-operatives,Focus, Marxism Today, 1985
- ^"CECOP".Cecop.Archivedfrom the original on 27 January 2021.Retrieved2 March2024.
- ^Jones, Michael (1994)."Scott Bader: a viable form of workplace democracy".hydi.um.edu.mt.Retrieved2 March2024.
- ^"Ridley-Duff, Rory, Cooperative Social Enterprises: Company Rules, Access to Finance and Management Practice, Emerald Group Publishing Ltd, 2009 p 2"(PDF).Archived(PDF)from the original on 28 January 2021.Retrieved29 January2021.
- ^"Ridley-Duff, Rory, Cooperative Social Enterprises: Company Rules, Access to Finance and Management Practice, Emerald Group Publishing Ltd, 2009, p 2"(PDF).Archived(PDF)from the original on 28 January 2021.Retrieved29 January2021.
- ^Cornforth, Chris (1984)."The role of local co-operative development agencies in promoting worker co-operatives".Annals of Public and Cooperative Economics.55(3): 253–280.doi:10.1111/j.1467-8292.1984.tb01777.x.ISSN1467-8292.Archivedfrom the original on 17 November 2023.Retrieved2 March2024.
- ^Thornley, Jenny,The New Workers' Co-operatives,Focus, Marxism Today, 1985
- ^"What are 'the commons' in the 21st century? Interview with Pat Conaty by Michael Lewis".24 February 2019.Archivedfrom the original on 3 March 2021.Retrieved29 January2021.
- ^"Industrial Common Ownership Finance (ICOF)".National Co-operative Archive.Retrieved2 March2024– via Archives Hub.
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