The profit motive of business organization and their exploitations to consumers for long period of time let to the established of cooperative societies. They are also named as cooperative organizations, cooperative business or simply cooperatives. Robert Owens is operative societies. They are also name as co-operative movement in the world. Consider to be the pioneer of co-operative society named Roch dale equitable pioneered 'society was established in 21 century December, 1844 England with just 28 members and £28 members and capital amount. This business organization became very successful and consequently the idea spread to Europe, America and other parts of the world.
A co-operative society is a voluntary association of people having low income and interest. They join together for business with the principle of equality and mutual help. Co-operative is a democratic organization established with equal contribution from member. It primarily provide service to its members. It is set up to serve weaker section of the society. The fundamental objective of co-operative is to provide essential goods and service at fair price to its members. The philosophy behind co-operative movement is each for all and all for each and self help through mutual help.
According to Nepal co-operative Act 2048 B.s.(First amendment 2057)," Any society or union registered according to section 5 of the co-operative Act 2048 B.S.A society is constituted in order to provide services and facilities for the economic and social development of its members'
According to H.M. Kunzru," Co-operative is self help as well as mutual helps."
Characters
a) Voluntary organization
b) Service motive
c) Mutual help
d) Disposal of surplus
e) Democratic management
f) Equality
g) Cash transactions
h) Separate legal existence
Types of cooperative
a) Consumers' co-operative society
b) Producers' co- operative society
c) Saving and credit co- operative society
d) Marketing co- operative society
e) Housing co –operative society
f) Farming co- operative society
g) Multipurpose co-operative society
h) Miscellaneous co-operative society
