Cooperatives are private organizations that are controlled and owned by the individuals who use the supplies, services, or products they produce. Merits of Cooperative Society. A cooperative organization entails longer decision-making process. Limited liability: The liability the members is mostly limited to the value of the share held by them. 2. It thus helps in raising the standard of living of the members. Co-operative societies enjoy the benefit of certain preferences being shown towards them by tax authorities. 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. State Co-Operative Bank:-These are the main co-operative banks in an every states and provide finance to the all central co-operative … Disadvantages of cooperative society: … 2. 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. 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. 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. 5. Advantages and Disadvantages of Cooperative Societies. Following are some of the advantages of cooperative societies: 1. 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. 3. Right now, one of the surest routes to owning a home in Nigeria is to go the cooperative society way. Extensive record keeping is necessary in this form of organization. The cooperative society helps its members in providing employment to the people and supply of goods at a lower price than the market. It has less incentive, and there’s also a possibility of development of conflict between members. Advantages of Co-operative Society 1. 4. Less Taxation. Merits of Co-operative Societies. Social benefit: It helps in social welfare as it caters to the needs of the poor and middle sections of the society. Disadvantages In addition, it enjoys the following advantages also. Advantages of Cooperative Society. 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. Any ten adults can join together and form a co-operative society. The procedure involves in the registration of a cooperative society is very simple and easy.… It promotes saving habit, self-help and other moral values in the society. Being a body corporate, the co-operative society gets all the advantages and benefits, which are derived by companies. Advantages of a Cooperative. February 7, 2020 March 5, 2020 by Louise Gaille. 19 Top Advantages and Disadvantages of a Cooperative. 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. 9. It requires members to participate for success. 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