The Bermuda Economic Development Corporation will host a two-part evening workshop series on co-operative business next week.

The series is designed for people who want to learn about co-operative businesses and take the first steps towards starting one.

Co-operatives are businesses owned and governed by the people who use them, such as workers, customers or community members, rather than by outside investors.

The BEDC said the model offers entrepreneurs another path to build shared ownership, keep economic value within the community and create more resilient local enterprises.

The workshops will be led by William Spriggs, BEDC’s director of economic and co-operative development and virtual presenter, John Holdsclaw IV, president and chief executive of Rochdale Capital.

Participants will hear from an experienced practitioner and have the opportunity to engage directly with the material.

Mr Holdsclaw leads a certified community development financial institution that promotes co-operative and community ownership, providing financing and technical assistance to community based organisations and co-operatives. He also serves as chief policy officer at the National Co-operative Bank and was named one of Impact Alpha’s Agents of Impact for 2022.

The series will look at the co-operative model and its existence in Bermuda, its advantages and financial considerations, among other things.

The workshops are open to anyone interested in learning about and starting a co-operative business, including aspiring entrepreneurs, community groups and existing business owners exploring a shared-ownership structure

“Co-operatives are one of the most practical ways for people to pool their skills, resources and ambition to build something that lasts,” Mr Spriggs said. “These workshops give Bermudians a clear understanding of how the model works and what it takes to get started. Our goal is to help more people see co-operative ownership as a real opportunity to strengthen their businesses and their communities.”

The series reflects BEDC’s ongoing commitment to expanding the tools and pathways available to Bermuda’s entrepreneurs and to supporting economic development that benefits the wider community.

Attendance is in person and space is limited. The cost is $20 per session or $30 for both sessions. Both sessions run from 5.30pm to 7.30pm in the BEDC training room on the first floor of Sofia House at 48 Church Street, Hamilton.

• To register, see www.bedc.bm