Filing an annual report means facing a dedicated deadline that many struggle to plan for. Between wrestling with the details of what needs to be filed when the filing needs to be complete, and how much time the report compilation… Read More ›
Community Interest Companies
How to Convert a CIC to a Charity
The instruction of community interest companies (CIC) provided organisations with new ways to view profit and community. Like any hybrid system, the aim was to match a combination of interests. However, a combination of interests rarely remains in balance. What… Read More ›
COVID-19 Community Fundraising
Bodies and minds need constant motion and stimulation to stay healthy. In this trying time, one or the other emphasis slips through the cracks. To compensate for more at-home time, many people look for opportunities to help their communities. No… Read More ›
How to choose a Legal Structure for Your Social Enterprise
For many, the idea of becoming a ruthless corporate tycoon is unpalatable. For those who dream of opening a business and making a difference, this image is too often seen as a triumph. Pushes in the past fifteen years have… Read More ›
CIC Formation: How to Register a Community Interest Company (CIC)
Once upon a time, the roots of enterprise were deeply woven within communities. A business existed to benefit its place of origin as much as it did to enrich the world outside of its limited borders. This spirit remains today, though… Read More ›
The Benefits of Forming a CIC Over a Charity
Like so many things that a person sets out to build, the underlying structure and intent combine to create the final form. Some structures will help one aspect of the organization and hinder others. No structure is perfect and everything… Read More ›
CIC v Charity: Understanding the Difference
If you’re considering setting up a social Enterprise that will benefit the community-at-large, you have two choices – a community interest company (CIC) or a charity. While both are designed to offer some benefit to others or the planet, they… Read More ›
Mindset: A Guide to Community Interest Company Success
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 ›
Online filing of CIC accounts
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 ›
Asset Locked – The CIC Mystery
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 ›