Thinking of Setting Up a CIC? Take a Look at Our Recent Webinar
If you’re considering setting up a community interest company (CIC), then our recent webinar is a must-watch. In this free online event, our experts shared their insights and advice on everything you need to know about CICs, from the legal requirements to the practicalities of running one.
What is a CIC?
A CIC is a type of social enterprise that combines the values of a charity with the flexibility and independence of a business. CICs are limited companies that are established for a specific social or environmental purpose, and any profits they make must be reinvested back into the company.
Why set up a CIC?
There are many reasons why you might want to set up a CIC. Some of the benefits include:
- Legal protection: CICs are limited companies, which means that you and your fellow directors are not personally liable for the debts of the company.
- Tax benefits: CICs can benefit from a range of tax breaks, including corporation tax relief and VAT exemption.
- Access to funding: CICs can access funding from a variety of sources, including grants, loans and social investments.
- Credibility: CICs are seen as credible and trustworthy organisations, which can help you to attract customers, suppliers and partners.
What are the legal requirements for setting up a CIC?
To set up a CIC, you will need to:
- Choose a company name
- Appoint at least one director
- Register your company with Companies House
- Prepare a set of governing documents
- Submit an application to be registered as a CIC with the Regulator of Community Interest Companies (RCIC)
How to run a CIC
Once you have set up your CIC, you will need to manage it effectively in order to achieve your social or environmental objectives. Some of the key things you will need to do include:
- Develop a business plan
- Secure funding
- Market your products or services
- Manage your finances
- Comply with the law
Our webinar
Our recent webinar covered all of the essential information you need to know about setting up and running a CIC. Our experts discussed the legal requirements, the practicalities of running a CIC, and the benefits and challenges involved.
If you’re thinking of setting up a CIC, then I highly recommend watching our webinar. It’s a great way to learn more about this exciting and rewarding business model.
To watch the webinar, please click on the link below:
[Webinar: Setting Up a CIC]
Thinking of setting up a CIC? Take a look at our recent webinar
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