Szövetkezetekben

Szövetkezetekben refers to cooperatives in Hungarian. A cooperative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled enterprise. The concept of a cooperative is international and can be applied to various sectors of the economy, including agriculture, housing, retail, and finance.

In Hungary, the legal framework for cooperatives is established by specific legislation, which defines their formation, operation, and governance. Members of a cooperative typically contribute capital and share in the risks and benefits of the enterprise. Decision-making power is usually based on the principle of one member, one vote, regardless of the amount of capital contributed. This democratic structure is a defining characteristic of cooperative organizations.

Cooperatives play a significant role in many economies by providing goods and services, creating employment, and promoting social solidarity. They can offer an alternative to traditional corporate structures, often prioritizing the well-being of their members and the community over profit maximization for external shareholders. The success of a cooperative depends on the active participation and commitment of its members.