Industrial Common Ownership Movement
Industrial Common Ownership Movement (ICOM) was a UK national umbrella organisation for worker 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 become Co-operatives UK.
ICOM is one of the founder organisations of CECOP,[3] the European regional organisation of CICOPA, the world sectoral organisation for industry and service, and itself part of the International Cooperative Alliance.
The Industrial Common Ownership Act[edit]
The Industrial Common Ownership Act that recognised common ownership companies in law was passed by the British Parliament in 1976. The first certificate was awarded to Scott 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 of Manpower 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. Archived from the original on 3 March 2021. Retrieved 2 March 2024.
- ^ Thornley, Jenny, The New Workers' Co-operatives, Focus, Marxism Today, 1985
- ^ "CECOP". Cecop. Archived from the original on 27 January 2021. Retrieved 2 March 2024.
- ^ Jones, Michael (1994). "Scott Bader : a viable form of workplace democracy". hydi.um.edu.mt. Retrieved 2 March 2024.
- ^ "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. Retrieved 29 January 2021.
- ^ "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. Retrieved 29 January 2021.
- ^ 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. ISSN 1467-8292. Archived from the original on 17 November 2023. Retrieved 2 March 2024.
- ^ 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. Archived from the original on 3 March 2021. Retrieved 29 January 2021.
- ^ "Industrial Common Ownership Finance (ICOF)". National Co-operative Archive. Retrieved 2 March 2024 – via Archives Hub.
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