2. Following are some of the advantages of cooperative societies: 1. Marketing Cooperative Society: These societies are formed with the objective of providing small producers a platform to sell their products at affordable prices and also eliminate middlemen from the chain, thus ensuring adequate profits. It thus helps in raising the standard of living of the members. A cooperative organization entails longer decision-making process. Advantages of Co-operative Society 1. State Co-Operative Bank:-These are the main co-operative banks in an every states and provide finance to the all central co-operative … 5. 4. 1. Housing Cooperative Society: This committee is formed to help the members who need lands and houses. Central Co-Operative Bank:-This banks are operate in district level and provide a financial services and control the primary co-operative societies of a district. Merits of Co-operative Societies. It has less incentive, and there’s also a possibility of development of conflict between members. Advantages of a Cooperative. February 7, 2020 March 5, 2020 by Louise Gaille. Easy to form: The formation of a cooperative society is very simple as compared to the formation of any other form of business organisations. Advantages and Disadvantages of Cooperative Societies. It requires members to participate for success. 3. Ans: Given below are the types of cooperative societies: Consumer Cooperative Society: Its purpose is to purchase goods directly from the manufacturer and deliver it to the consumers at a reasonable price. The procedure involves in the registration of a cooperative society is very simple and easy.… In addition, it enjoys the following advantages also. Advantages of Cooperative Society. 3. Disadvantages of a Cooperative Organization: 1. 19 Top Advantages and Disadvantages of a Cooperative. Advantages And Disadvantages Of Cooperatives 702 Words 3 Pages The world has become more and more exclusive as the disparity between the haves and have-nots in our society widened. A cooperative society is different from other forms of business organization because other business organizations like partnership firm or private limited companies work with the sole objective of earning profits whereas in this form of business organization member’s voluntary join the society so to work for the benefit of the members of the society while doing business. Right now, one of the surest routes to owning a home in Nigeria is to go the cooperative society way. It promotes saving habit, self-help and other moral values in the society. Any ten adults can join together and form a co-operative society. 9. Therefore, members of a cooperative are only taxed once on their income from the cooperative and not on both the individual and the cooperative level. Cooperatives are private organizations that are controlled and owned by the individuals who use the supplies, services, or products they produce. Social benefit: It helps in social welfare as it caters to the needs of the poor and middle sections of the society. … Being a body corporate, the co-operative society gets all the advantages and benefits, which are derived by companies. Disadvantages of cooperative society: Extensive record keeping is necessary in this form of organization. The system of owning a house through a housing cooperative society in Nigeria has its own perks and advantages on a good day, but it also has its disadvantages. Similar to an LLC, cooperatives that are incorporated normally are not taxed on surplus earnings (or patronage dividends) refunded to members. Less Taxation. Disadvantages Co-operative societies enjoy the benefit of certain preferences being shown towards them by tax authorities. 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