Setting Up a Community Interest Company
Becoming a Community Interest Company (CIC) is an exciting step forward for groups or organisations that want to be a business and have social impact. However, you will need to think about some key issues first, to make sure you’re doing the right thing for you and your social enterprise. This briefing covers why and how to set up as a CIC, and how to run well once you are set up.
What is this course about?
This briefing covers why and how to set up as a CIC, and how to run well once you are set up. It’s a 90-minute lunchtime session for beginners, with plenty of time to ask questions.
Why is this relevant or important now?
CICs are probably the most common legal form for social enterprises and can offer advantages over other structures such as speedy decision-making, low overheads and flexible adaptation to change.
The coronavirus pandemic proved how important community businesses and social enterprises are; rather than giving profits to shareholders or keeping them, CICs reinvest any surplus money back into the community, directly benefitting local people – and giving founders/leaders the chance to combine paid employment with strategic direction and governance.
Even before the pandemic, CICs were popular; in 2018, there were already 14,250 registered in the UK. The government estimates there could be 30,000 CICs by 2025.
Who is the course for?
Anyone considering a CIC model for their social enterprise, or for an existing business or charity that wants to convert to a CIC. This is a basic level course, so we don’t expect you to know the terminology or the structure of a CIC – that’s what you’re here to learn, at a comfortable pace.
What will you learn?
- When a CIC is the best choice for your social enterprise.
- How to choose the right CIC structure for you.
- How to register as a CIC.
- The roles and responsibilities of the Board and Directors.
This course is free.
What else do you need to know?
This course is scheduled to run online, to take part, you will need a laptop with a camera, microphone, and Wi-Fi. You won't need any other software.
You will be emailed an invitation with a link to join the online training the day before the course.
For more information about coronavirus, see https://www.voscur.org/content/covid19-service-users
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