Email a friend

Online Discussion

Here´s a record of our online discussion for social enterprise day.  Thanks to all who contributed.

alt

If you have ideas for other discussions you could post a topic in the forum or if you would like to suggest ideas for a special discussion please get in touch with us.

 


 
Author
Sian
Posted
20/11/08 8:03 PM
Updated
20/11/08 7:39 PM
Comments 1

CIC

I've been to an event this week and heard people talking about a CIC social enterprise. Can you tell me what that is please?


Reply
Author
Post : #1
glenn.bowen
Posted
20/11/08 8:03 PM
Updated
20/11/08 8:08 PM
Cic

Hi Sian

 The Community Interest Company (CIC) has been around now for about 4 years, it was designed specifically for social enterprises who want to use their profits and assets for the public good. CICs are easy to set up, with all the flexibility and certainty of the company form, but with some special features to ensure they are working for the benefit of the community. CICs  report to an independent regulator on how they are delivering for the community and how they are involving their stakeholders in their activities. The main advantage of a CIC is that it has a built in Asset Lock where assets can only be given to similar organisations. The asset lock is actually policed by the regulator so it ensures that the assets can only ever be used for the public good. Initially some funding bodies were reluctant to fund CIC´s but as the brand has developed this is becoming less of a problem.
 
For more information have a look at the Regulators website. http://www.cicregulator.gov.uk/
 
 Glenn
Reply
Back to topics