What is a Community Interest Company?
A Community Interest Company is a legal form of what is known as a ‘social enterprise’. It is similar to a Limited Company but with one or more social objectives, such as helping the unemployed find work and training.
It has always been our plan to become a social enterprise. The only question has been what kind of social enterprise. Having spent considerable time exploring the pros and cons of each type we have decided upon becoming a Community Interest Company Limited by Shares. We are now in the process of completing the legal forms and hopefully should have approval form the Regulator by the end of February. Once this is done we will be officially launching the company so watch this space! In the meantime, if you would like to be kept up to date with all our news and offers please sign up for our newsletter.
Like a Limited Company a CIC can be choose to issue shares but the amount of dividend that can be paid to investors is regulated by the Regulator of Community Interest Companies. For more info see these sites: https://www.gov.uk/government/organisations/office-of-the-regulator-of-community-interest-companies and http://www.socialenterprise.org.uk