Starting a business for co-op?

littlehannah96

I am thinking of starting up my own business. Now I don't plan to make any money out of it at all for the first 6-9 months (which i dont mind because i wouldnt be earning anything if i was in college anyway) but that shouldn't make it any less of a business!

I am wondering if they allow this kind of thing for Co-op. I would certainly like to think that they do not discourage entrepreneurialism (is that a word?).

I have heard of a couple of other fellas who set up a wedding video business but i'm not aware of whether they're using that as their co-op or just doing it in their spare time.

Has anyone done this before or know of anyone else that has done this?

All and any feedback much appreciated!:pac:

cson

littlehannah96 wrote: »

I am thinking of starting up my own business. Now I don't plan to make any money out of it at all for the first 6-9 months (which i dont mind because i wouldnt be earning anything if i was in college anyway) but that shouldn't make it any less of a business!

I am wondering if they allow this kind of thing for Co-op. I would certainly like to think that they do not discourage entrepreneurialism (is that a word?).

I have heard of a couple of other fellas who set up a wedding video business but i'm not aware of whether they're using that as their co-op or just doing it in their spare time.

Has anyone done this before or know of anyone else that has done this?

All and any feedback much appreciated!:pac:

The bit I've highlighted there is your problem. Fundamental concern of a business is to make a profit. Put in it's simplist terms. Otherwise you're operating a charity or some kind of subsidised service.

To be quite honest I don't think the Coop Office would go for it and I'd be of the opinion that you may be better served getting Coop in a good Company/Business which would give you a good experience of what's required to succeed in entrepreneurial ventures.

In any case; no harm in popping in and asking the Coop Office.

unnameduser

The idea of COOP is to learn things from an established successful business. Seeing how it runs etc. I don't see the COOP office going for it at all.

You are correct, there is so much to be learned from running your own business but I think you are out of luck on this one.

CiaranMT

Best thing to do would be to go into the office and ask if they've ever had something like this before. Ask if it would be a possibility. Depending on your course and the rate of people securing co-op on it, they might consider, who knows! The worst they can say is no sure.

shabouwcaw

The bit I've highlighted there is your problem. Fundamental concern of a business is to make a profit. Put in it's simplist terms. Otherwise you're operating a charity or some kind of subsidised service.

that's just untrue.. most web start ups have no revenue. Youtube continued to make a loss until last year. Sales maximisation is well studied and documented business strategy, where the aim is not to make a quick profit and many businesses (legitimate businesses) that are involved in ethical or social production of goods (such as Ark) don't aim or intend to ever make a profit. Does not stop them being any less of a company. The wonder of free market capitalism is that you are free to run your company any way you want.

A group of lads from MMPT (i think) started a business for their co-op. they had a day in the SU courtyard where they had a band and sold their house-party stuff. I presume if they were allowed to do it, that would be the precedent.

As said above, go into the co-op office, they'd be the ones who know whats allowable. But with the jobs climate as it is, with so many people forced to take unpaid co-op (like myself) i think it could only be a good thing to let people start their own businesses.

PeakOutput

i have done this for half my coop period and i know one other person who got approved to do it for the entire time but then decided not to at the last minute so its definitely possible you just need to have a very good business plan

littlehannah96

Thanks for the replies folks!

bazkennedy

I know of at least two groups of students who've set up companies for their co-ops, the first (as mentioned above) were (afaik) business students selling party supplies. The Second are a bunch of MMPT students who run a video production company