Explain the advantage of cooperative and disadvantages of cooperative in Tanzania
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Explanation:
Advantages of Cooperative Societies
1. Voluntary organization
2. Ease of formation
3. Democracy
4. Equitable distribution of surplus
5. Limited liability
6. Stable existence
7. Each for all and all for each
8. Greater identity of interests
9. Government support
10. Elimination of middlemen
11. Low taxes
12. Rural credit
13. Role in agricultural progress
14. Own sources of finance
15. Encourages thrift
16. Fair price and good quality
17. Social benefit
Disadvantages of cooperative societies
1. Limited funds
2. Over reliance on government funds
3. Imposed by government
4. Benefit to rural rich
5. Inadequate rural credit
6. Lack of managerial skills
7. Government regulation
8. Misuse of funds
9. Inefficiencies leading to losses
10. Lack of secrecy
11. Conflicts among members
12. Limited scope
13. Lack of accountability
14. Lack of motivation
15. Low public confidence
Infographic on Advantages & Disadvantages of Cooperative Societies
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