Features & Sacco Leadership

How to name your Co-Op

Characteristics of cooperative societies: Different Types of Cooperative Societies: Roles of a member in a cooperative society: How to Name Your Co-Op: How to Form a Steering Committee: responsibilities of a steering committee in a cooperative society: How to attract new co-op members

One of the initial steps in setting up a cooperative is selecting and reserving a legal name for the business. This process varies depending on whether you are incorporating at the provincial or federal level. Each government has its own set of rules and procedures for naming a cooperative, and it’s important to follow these guidelines to ensure your chosen name is approved.

The Naming Process

To start, you need to reserve a name with your local corporate registry. This department handles the registration of businesses, including cooperatives. In many provinces, you can complete this process online. If you’re incorporating federally, you’ll need to adhere to national rules.

Choosing a Co-op Name

Coming up with a unique and meaningful name for your co-op can be an enjoyable part of the process. Once you submit your name choice, the corporate registry will check their records to ensure no other business has the same or a very similar name. To avoid potential rejections, it’s wise to have a few backup names ready.

Here’s a formula to help you create a standout name: Location or Feature + Purpose/Type of Co-Op + Legal Requirements = Great Name

  1. Location or Feature: Incorporate your community’s name or a notable local feature into your co-op’s name. This can help distinguish your co-op from others in different locations. Consider using names that reflect cultural significance or historical landmarks.
  2. Type or Purpose of the Co-Op: Including the type of co-op or its purpose in the name can be helpful. This might involve describing the nature of the members (e.g., a producer co-op) or the specific work the co-op will do (e.g., a farmers’ market co-op).
  3. Legal versus Marketing Name: The legal name you reserve doesn’t have to be the same as the name you use for marketing purposes. Legal names are often longer and less catchy. Many co-ops opt for a shorter, more memorable name for everyday use. For example, “North of 53 Consumers Co-operative” is the legal name of a gas bar and grocery store in Flin Flon, MB, but it is commonly known as “the Co-op.”

Depending on your business, you might not need to include “co-operative” in your marketing name. For instance, a farmers’ market organized as a co-op can be marketed simply as a “farmers’ market,” which is clear enough for consumers. If your co-op is taking over an existing business, retaining the previous name could be beneficial as it carries an established reputation and customer base.

 

Andrew Walyaula
Author: Andrew Walyaula

Andrew Walyaula is a seasoned multimedia journalist. waliaulaandrew0@gmail.com

Andrew Walyaula

About Author

Andrew Walyaula is a seasoned multimedia journalist. waliaulaandrew0@gmail.com

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