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Some private enterprises established as trusts, charities or provident associations have become very large indeed with the passage of time. In Britain, examples include the charity Wellcome Trust, established in 1936, which funds research to improve human and animal health; the National Trust, formed in 1895 to look after places of historic interest or natural beauty; Oxfam, founded for the relief of famine in 1942; and the health and care company BUPA, which can trace its origins to the British Provident Association established in 1923.

Some co-operative and mutual organisations are also substantial, like The Co-operative Group in Britain, part of a worldwide movement modelled on a small store which opened in Rochdale in 1844; and the Mondragon Cooperative, started in 1943 in Spain’s Basque country, now an international group of manufacturing, financial and retail companies. Another interesting example is Reuters, which progressed from a small family news agency to a newspaper co-operative, then to a trust, and subsequently floated as a public limited company before combining, eventually, with a Canadian group. ^[7]