Mutual businesses go for growth

Mutual businesses have reasserted their position in the UK high street, with figures unveiled today showing a combined mutual sector turnover of £116bn and one in three consumers doing business with a mutual in the last year.

Leading mutuals will gather in London later to outline further plans for the continued expansion of customer owned firms across a diverse range of business areas. Delegates will hear from mutual business leaders including The Co-operative Group’s Peter Marks who will talk about his plans to propel The Co-operative Bank into the premier league of UK financial services.

Post Office Chief Executive Paula Vennells will also address the conference to describe progress in converting Post Office Ltd into a mutual business, operating in the public interest.

Leading speakers from European mutuals will share their strategies for raising new growth capital for mutual firms whilst maintaining mutual ownership and a commitment to serving customers.

Peter Hunt, Chief Executive of Mutuo, said:
‘With their shared values of trust and a focus on returns to members, mutual businesses have demonstrated that they are crucial to ensuring competition for consumers. The Ownership Commission and our work with mutual businesses worldwide, has shown that mutuals are critical players in a mixed economy, where risk and reward are shared.’

View the Mutuals Yearbook 2012