You still take all the risk because the bank is going to say they won’t give a loan to a new company without a track record, unless someone is willing to be a guarantor.
Now you share the profits, but all the risk is yours.
Unless you have a bunch of people lined up to start the co-op and they’re all willing to pitch in or become guarantors with you, in which case it might just work - but again, the initial people are going to have more skin in the game than the rest.
DreamlandLividity@lemmy.world 4 days ago
Then go ahead and start one :D Good luck finding a bank that gives you an unsecured loan to start a business.
zalgotext@sh.itjust.works 4 days ago
Eh, banks give out loans for people to start restaurants all the time, and restaurants are notoriously risky businesses. There’s hundreds of worker-owned co-ops in the States, so it’s not impossible to find a bank that will fund them.
CoCo_Goldstein@lemmy.world 4 days ago
** Citation needed.
zalgotext@sh.itjust.works 4 days ago
Looks outside
captainlezbian@lemmy.world 4 days ago
And if you want a reward for founding a business but want it to be a co-op there are methods thst are reasonable and fair like selling it bit by bit to the employee union at a reasonable price or willing your company to your workers.
explodicle@sh.itjust.works 4 days ago
This unironically