Running a Community Interest Company (CIC) isn’t just about profit or private gains; it’s about using business to benefit the community. CICs operate for the public good, and at the heart of these companies are their Directors. These leaders have… Read More ›
Community Interest Companies (CICs) serve a vital role in the UK economy by blending social objectives with business operations. As a CIC director, you shoulder the responsibility of steering the company towards its social mission while ensuring its financial sustainability…. Read More ›
Congratulations on your new role as a director of a Community Interest Company (CIC)! As you step into this position, you’ll discover various responsibilities, including managing the company’s finances and navigating the rules surrounding cash withdrawal. Understanding the available methods… Read More ›
As directors of Community Interest Companies (CICs), navigating the terrain of compensation can be a delicate balance between fulfilling your social mission and ensuring financial sustainability. It’s imperative to uphold principles of financial fairness and responsibility while determining how to… Read More ›
Do you manage a Community Interest Company (CIC) and wonder how to pay yourself while making a positive impact on society? As a CIC director, you play a crucial role in driving social change, and it’s only fair that you… Read More ›
Leading a Community Interest Company (CIC) offers a unique blend of business acumen and social purpose. While your primary objective might be community welfare, it’s equally important to understand how you can sustainably remunerate yourself. In the UK, CIC directors… Read More ›
Briefly put, CIC directors are frequently employees but also might not be since their job status is entirely dependent on individual circumstances. Along with company secretaries, directors are referred to as ‘office holders’ by default. Whether or not someone has… Read More ›
Every CIC must have directors. Directors have statutory obligations they must meet. As vital parts of the structure and operation of a CIC, it’s important to understand what directors do, how many are needed in a CIC, and the specific… Read More ›
Setting up a Community Interest Company (CIC) has many advantages over either being a normal corporation or setting up a charity. A CIC is a hybrid between companies and charities in that it’s a company with a social mission, but… Read More ›
Should you use the CIC dividend cap? It’s a question a lot of directors and board members of CIC organisations have to ask themselves. The community interest dividend cap is there to help CICs remain community activist organisations. The primary goal… Read More ›