February 22, 2013 3.48 pm
This story is over 111 months old
New study shows the value of the Lincolnshire Co-op pound
Local investment: New study shows that every £100 people spend in a co-operative generates an additional £40 for local suppliers, customers and employees.
Every £100 spent in Lincolnshire Co-op generates an extra £40 for local suppliers, customers and employees, according to a new study.
The study, by independent economic analysts K2A, followed money spent by Lincolnshire Co-op customers.
It found that the money increased in value, being used for local suppliers, customer dividends and wages, who also spend part of that money locally too.
The study also found that Lincolnshire Co-op uses more than 600 local suppliers, with just under half seeing the Co-op as a large part of their business.
Overall, the Co-op generates nearly £100 million annually for the local economy, rather than national or global suppliers or outside investors.
Ursula Lidbetter, Chief Executive of Lincolnshire Co-operative, said: “We’re pleased with the results of this study which show our positive impact on our local economy.
“Everything we do as a co-operative society is for the benefit of our members who own the business, and their local communities.
“We support these communities in a numbers of ways – by providing the rural services important to people like foodstores and post offices, by giving local producers an outlet for their goods, by giving grants and donations to local groups and by making our members better off by sharing profits through the dividend.”
Ed Mayo, Secretary General of Co-operatives UK, said: “In fact, every pound spent in a co-operative store changes hands five times, at diminishing levels, until the final penny leaves the local economy. This adds a wonderful life to any local community.”
Jenny Smith is from Jenny’s Jams, a micro-enterprise based in Lincoln which supplies the county with quality jams and chutneys. She has received support on key areas like labelling.
She said: “Working with Lincolnshire Co-operative has helped my business in a number of ways. It means that my products reach a wider audience because they are available throughout the county and it’s also good to get feedback from a large retailer on what you are making.
“I moved my business from my home to a special unit in 2011 because contracts like the one I have with Lincolnshire Co-op have enabled me to expand. It also helps other local businesses as where possible; I buy my fruit from local pick your own farms and wholesalers.”
The Lincolnite welcomes your views. All comments are reactively-moderated and must obey the house rules. Please stay on topic and be respectful of other readers.
Can you help us identify the woman in these CCTV images?
We are appealing for help to identify the woman shown in these CCTV images following a theft that occurred on Wednesday 22 June in Grimsby.
A 92-year-old woman was walking through Freshney Place Shopping centre, Grimsby when it is believed that her purse was taken from her shopping trolley.
The woman in these images we believe may be able to assist with our investigations and we would ask anyone who believes they recognise her to please contact us on our non-emergency 101 line quoting log 246 of 23 June.
A retired fire engine that used to operate in Grimsby was used in Ukraine to help combat a missile attack on a shopping centre, which the G7 has described as a ‘war crime’ by Russia.
On Monday, footage emerged of a missile striking a shopping centre in the Ukrainian city of Kremenchuk, with Ukraine’s president Volodymyr Zelensky claiming is is evidence of a deliberate attack by Russia.
At least 20 people were killed and around 56 were injured following the incident, with G7 leaders saying the attack is considered a war crime. More than 1,000 people were inside the building when it was hit by the missile.
A familiar looking fire engine can be seen in video footage of the blaze shared across news outlets and social media platforms, in the form of an old Humberside Fire & Rescue vehicle.
Large shopping mall in Kremenchuk with hundreds of civilians inside has been hit by a Russian strike. Russia is a disgrace to humanity and it must face consequences. The response should be more heavy arms for Ukraine, more sanctions on Russia, and more businesses leaving Russia. pic.twitter.com/Uvi6fbyShK
The fire engine used to operate here in North East Lincolnshire, covering Grimsby and Immingham, and it is one of many vehicles sent out by Humberside Fire & Rescue to various countries across Europe in recent years.
Fire Aid recently sent a convoy of around 75 vehicles, equipment and clothing to Ukraine to help provide resources for recovery.
At least 20 people were killed in the incident. | Photo: BBC Look North
Area manager Matthew Sutcliffe told BBC Look North: “We’ve sent a number of fire engines since 2015 over there. These are end of life fire engines for us in Humberside, so we share them across Eastern Europe where we can.
“It’s an absolute tragedy what we saw yesterday. Firefighters there were using one of our old fire engines to protect the property but also save lives.”
"Absolute terrorism" – says @ZelenskyyUa and publishes a video of a deliberate missile strike on the Kremenchuk shopping center with people inside. Russian propaganda always lies: there is no coincidence, it is a deliberate blow to intimidate the population and mass victims. pic.twitter.com/Gx1f90cMta
During a regular nightly address to the nation on Monday, president Zelensky said: “The Russian missile hit this very object, purposefully. Obviously, that was the order. It is obvious that Russian assassins received such coordinates for this missile.
“They wanted to kill as many people as possible in a peaceful city, in a regular shopping mall.”
Whatsapp
