The world of business entities can be quickly divided into three super categories: for-profit business, charities, and community interest companies (CICs). CICs straddle the line between a pure charity and a for-profit business. A CIC can make a profit, but… Read More ›
On 2 September, 2019, the Office of the Regulator of Community Interest Companies announced that most of the 17,000 CICs in the UK will be able to file their accounts online. “This on-line filing service can be used by small… Read More ›
When forming a CIC, there is a guideline that a CIC cannot transfer its assets except under special circumstances. It’s called an asset lock. Asset lock is one of the key features of a CIC. It’s this concept that governs… Read More ›
December is usually a very busy period at Companies house. it’s not advisable living it to the last minute. Plan early Start planning early for filing your cic accounts and make sure you know your company’s filing deadline. Check and… Read More ›
CIC Funding is a more specialised type of funding. It can be frustrating if you do not know were to look or you do not have an advisor to point you in the right direction. If you are looking for… Read More ›
“Pirates stole my accounts.”“A goat ate my accounts.”“I found my wife in the bath with my accountant.” According to Companies House, the above are just some of the stranger excuses given by companies for not filing their annual accounts on… Read More ›
It has been 14 years since the UK government first introduced community interest companies (CICs). CICs are very popular among social entrepreneurs who want to use business to help their local community. You can read one of our earlier blog… Read More ›
An individual may develop the most creative, timely business idea in the world, but it will remain an idea unless s/he can secure funding to make it a reality. For budding social entrepreneurs who want to help their community by… Read More ›
Some individuals believe that social enterprise is the future of business. There may be some basis for that argument given the resilience these types of organisation have shown during the economic challenges of recent years. As campaigners continue to petition… Read More ›
Benefits of forming a CIC A community interest company (CIC) is a limited company which exists to benefit a community or to pursue social good. It is a useful vehicle for philanthropic entrepreneurs who want to use business and enterprise… Read More ›