The importance of cooperative is:
S.N | Importance | Short description |
1 | Saving money | Being the member of cooperative, one has to compulsory do saving. It reduces extravagance and develops the habit of saving. |
2 | Secured future | Saved money can be used in important work in the future. Saved money increases courage, confidence and motivation to do any other work. |
3 | Utilization of means and resources | Different cottage industries can be operated in the support of cooperative. The local means and resources can be properly utilized in the cottage industries. |
4 | Increment of employment opportunity | Cottage industries and trade operated in the cooperation of cooperative, the interest earned from it and the employment generated by it. |
5 | Improvement in living standard | The living standard of people improves due to the money saved in cooperative, the interest earned from it and the employment generated by it. |
6 | Promotion of social unity | There will be promotion of social unity as the members of cooperative work together, discuss with each other, participate in seminar as well as workshops, go on a tour or picnic etc. |