What is a Community Interest Company?
What is a Community Interest Company?
Community Interest Companies (CICS) are limited companies with special additional features created for the use of people who want to conduct a business or other activity for community benefit, and not purely for private advantage. This is achieved by a "community interest test" and "asset lock", which ensure that the CIC is established for community purposes and the assets and profits are dedicated to these purposes. Registration of a company as a CIC has to be approved by the Regulator who also has a continuing monitoring and enforcement role.
You will find more information at http://www.cicregulator.gov.uk
SES Resources
Knowledge limitations can be a harsh reality for many organisations operating in the social enterprise sector. But a clear understanding of the resources that are available – and how to acquire them – can be a distinct advantage on the road to sustainability. After all, the key factor in Social Enterprise is all about long-term survival, and in order for individual enterprises to become sustainable, they must develop their organisations meaningfully over time. To do this means continuously searching for new opportunities to create revenue, as well as for ways to improve existing products and services. Therefore whatever your experience is, start-up or longer term support, passing on your knowledge will not only assist in the creation of new Social Enterprises, but will help existing organisations move up the ladder
