Atvinnusfélag

Atvinnusfélag is an Icelandic term that translates to "employment company" or "work cooperative." It refers to a type of business organization where the employees are also the owners and shareholders. This structure is often characterized by a democratic decision-making process, where members have a say in the company's operations and management.

The primary goal of an atvinnusfélag is to provide stable employment and economic security for its members. Profits are typically reinvested in the company or distributed among the worker-owners. This model can foster a strong sense of commitment and shared responsibility among employees, as their personal well-being is directly linked to the success of the enterprise.

Atvinnusfélög can operate in various sectors, from manufacturing and services to creative industries. They are often seen as an alternative to traditional hierarchical business structures, emphasizing collaboration and collective ownership. The legal framework and specific regulations governing atvinnusfélög in Iceland are designed to support this cooperative model of business.