Community Interest Companies (CICs) Formation

Community Interest Companies (CICs) are a unique form of business entity that aim to benefit the community or a specific social cause. At New Company Group, we specialise in providing comprehensive services and guidance for Community Interest Companies, helping them navigate the legal and operational aspects with ease.

What are Community Interest Companies?

Community Interest Companies (CICs) are social enterprises that operate with the primary purpose of benefiting the community or pursuing a specific social mission. CICs combine elements of both traditional companies and non-profit organisations, offering a flexible structure that allows for sustainable social impact while generating income.

Key Features of Community Interest Companies:

Social Impact Focus CICs are established to make a positive impact on society. They have a social mission at the core of their operations, addressing community needs, promoting social welfare, or tackling specific social or environmental issues.

Asset Lock CICs have an asset lock, which means that their assets are dedicated to the community and the pursuit of their social objectives. This ensures that any profits or assets generated by the company are reinvested back into achieving its social mission.

Regulated by CIC Regulator CICs are regulated by the CIC Regulator, a specialised government body that oversees their formation, governance, and compliance. The regulator ensures that CICs uphold their social objectives and operate in a transparent and accountable manner.

Community Benefit CICs focus on delivering tangible benefits to the community they serve. This can include providing essential services, supporting disadvantaged groups, fostering cultural or environmental initiatives, or driving positive social change in specific areas.

How Can We Assist Community Interest Companies?

At New Company Group, we understand the unique challenges faced by Community Interest Companies. Our range of services is designed to support you at every stage of your organisation’s journey:

New company formation advice from a UK office

Formation and Registration

We will guide you through the process of forming and registering your Community Interest Company, ensuring all necessary legal requirements are fulfilled, and helping you define your social mission.

New company formation advice from a UK office

Governance and Compliance

Our experts will assist you in establishing appropriate governance structures, drafting governing documents, and providing ongoing support to ensure compliance with regulatory obligations.

Financial Management

We offer specialised financial management services tailored to the needs of Community Interest Companies. From budgeting and financial planning to bookkeeping and financial reporting, we can put you in touch with experts in these fields.

Partner with New Company Group for Community Interest Companies

Choosing the right partner to assist you with your Community Interest Company is crucial. At New Company Group, we have the expertise, knowledge, and dedication to provide you with top-notch services tailored to your specific needs. Our team is committed to helping you make a meaningful difference in your community while ensuring your CIC’s long-term sustainability.

Contact us today to learn more about our Community Interest Company services and how we can support your social enterprise’s success in creating positive change.

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