CIC Association

Serving Community Enterprise

I have been aware of several attempts to gain SEC support for the formation of this CIC Association. So far its not really got anywhere.

Yesterday I recieved a call from a third party on behalf of the SEC conducting research in to CIC's. One of the questions I was asked was "have i found anything about being a CIC difficult?" - the answer I gave, and the answer I give now, is "yes... the fact that there isn't a single easily accessible resource to give me any supporting information about what on earth I am doing!"

We need a CIC Association.

I would pride myself on being one of the longer standing CIC's - we, Ethical Junction CIC (www.ethical-junction.org) were formed in 2005. We are a CLG and operate a membership network of over 1000 ethical businesses and organisations in the UK. I would estimate that about 5% of our network have even heard of a CIC.

I have so many questions that I don't know where to get answers for...

- do the value of shares in a CIC go up and down?
- since the interest rates have gone down is the dividend cap remaining the same?
- how can I easily get in touch with other CIC's?
- what are the plans for the development of the CIC brand?
- how do I get around the fact that virtually no one in the commercial world has heard of the trading entity CIC

And so on and so on...

I assumed I was alone in this until the first CIC forum held by the SEC last August at which I met John Mulkerrin. Since then I have found, with John, many many other CIC's in the same boat. If you read this and feel similar, join up and invite other CIC stakeholders/managers etc to join in this network and help provide evidence to support the formation of a CIC association.

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I don't have answers to your questions but know of someone who just might....
Perhaps you could try Sue Morrish of Business Link Southwest, she really is very knowledgeable about this area. Contact the Southwest Office and they'll advise how to get in touch.
Good luck.
Terri Hills.
Thanks, Terri. I'll give Sue a try.

I have since had conversation with the regulator and will feedback with any answers I get!

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