I am part of a small group starting on the process of becoming a CIC. There seems to be a lot of helpful advice from the CIC regulator as well as forms to download and complete. We are satisfied that setting up a CIC limited by guarantee is the route to go down, however, at what stage have others involved legal advice and how much can one expect to pay?
Added by Madeleine Legg on April 10, 2013 at 13:59 — No Comments
Isn't legislation wonderful if you can work out how to use it to your advantage!
Changes to specific regulations and new acts of Parliament have made the social benefit and local proximity of a service provider easier to work with.
The expected impact of this for procurement is that local traders will be able to secure more medium value contracts and well structured, test consortia will be able to bid for higher value.
There is a major concern with the buyers -…Continue
Dear all, I would be interested in hearing your experiences when approaching trust for support and funding. We had recently spoken to a representative from the Sainsbury's Trust and were clearly advised that although they were very impressed with what we do, they would not be able to support us in any way as we were not a charity.
Is it not possible for some CICs, if not all to have a recognised status under the Charities Foundation in order to be able to approach trusts for grants…Continue
OK. 1 day in with this new forum Group and I have 1 new Director, who is also to be a co-signer of cheques and I am also in discussion with 3 other Directors of CIC's about the possibility of reciprical board membership.
I will keep everyone posted on further developments.
Just a quick note to say that, following my recent posts and the positive communication I have received from Directors of other CIC's, I have submitted a new Group for the CIC Forums.
The new Group is a place where CIC's can invite other CIC Directors to become board members, as a reciprical arrangement, to bring in experience, support, or/and, to help to meet with grant funding requirements which specify 2 or 3 Unrelated Directors or Board…Continue
I look forward to being part of this important association.
I think some will…Continue
Added by Paul Gill on January 7, 2013 at 20:20 — No Comments
It is by chance that I found this association and I am glad that I have and become a member. We are a new social enterprise with the aim to develop innovative ways of delivering services and making true differences in our society. We have been waiting for over ten years to do this since readily available technology and legislation hadn't caught up with our aspirations. So I shall work to keep you posted of events and projects which are looking to develop and should you need any assistance…Continue
Added by Sarabjeet S Sidhu on January 5, 2013 at 12:38 — No Comments
CLICK HERE for survey
Should we only have one Cap for everything? A Share Cap of 40%? Should we allow sweat equity for success? Let the Regulator know your thoughts, it matters to all.
If you havent received your token please email me at firstname.lastname@example.org with your full CIC name.
Non CICs can access it directly…Continue
Added by John Mulkerrin on November 23, 2012 at 14:00 — No Comments
Hi all. Just running through the set-up documents. We have decided to set-up a new CIC CLG and are developing the articles. Is it a requirement to nominate an asset locked body at this stage, or can you look at this at a later date? Will the Regulator reject the application at this stage? Many thanks. Paul
Hi John. Thanks again for your advice over the last few days. The conversion application will be put together next week and hopefully we will be successful. I am also looking forward to engaging with other members on the blog. Paul Sherry.
Added by Paul Sherry on November 9, 2012 at 12:32 — No Comments
hi there, would anyone be able to help me with the following matter?
i am hoping to launch a local business directory and sell advertising space within its pages.
how would this venture work with regards VAT?
Must i pay VAT on any in-directory advertising space that is sold?
i find HMRC website a bit of a minefield!
Thought that I would ask here first.
Has anybody heard if any of the utility companies offer any discounts to CIC companies for gas, electric, Internet?
Thanks for your help.
Added by Graham Willsher on October 6, 2012 at 11:38 — No Comments
Caribbean4life CIC (Community Interest Company) is an innovative UK company established in 2007, for the purpose of promoting social enterprise and community business development support at all levels.
This is an invite to the Caribbean Trade Conference 2012.
The event is being held at the Hyatt Regency Hotel, Broad Street, Birmingham, on Tuesday 2nd October 2012 and the theme this year is ‘Moving from Local to Global’. visit…Continue
Added by Victor Shaw on September 3, 2012 at 13:05 — No Comments
With 5 colleagues I am engaged in and excited to be forming a CIC but I have a couple of queries.
Firstly, the question of asset tranfer .. ee .. or naming another organisation to which any remaining assets would devolve should your own CIC be dissolved.
We would like to name a relevant CIC with similar objects. We are a group of counsellors and our CIC will be operational in the North West in initially at least. Anyone…Continue
EPIK launched its1st competition in May 2012 as an initiative designed to encourage young people, especially those in NEET to engage with computer programming and all things technical in a creative and fun way by making programming attainable and reachable by all as a vocation.
EPIK's annual competition comprises of a £1000 prize fund with a growing list of prizes from our sponsors. Through the Gala event on the 4th September we aim to give youngsters the opportunity to…Continue
Added by Dorine Flies on August 1, 2012 at 14:30 — No Comments
I am just posting this blog to ascertain whether any one out there (particularly West Midlands) runs an organisation that provides persoanl care and support for adults. I know a fantastic young woman who is very disallusioned with the organisation she is working for and wants to work with a forward thinking third sector organistion that really puts the client at the heart of its organiation. Let me know if you have any suggestions. Sue Gazey
Please take time to complete the 2012 CIC Annual Questionnaire, its vital we continue to build a clear picture of the great work we do and the collective challenges we face.
We made a great start with the 2011 survey, but this year we will be able to produce a wider report to complement the data from the…Continue
Added by John Mulkerrin on July 24, 2012 at 14:56 — No Comments
I am in the process of completing my CIC application, and the necessary paperwork. I have a question concerning part 3 of the 'IN01' form regarding 'Statement of Capital'.
What is the best combination of quantity of shares, value of each share, class of shares, and does all of the share capital need to be paid?
Does the amount of share capital have any influence on future funding?
1000 £1 shares, with 50% paid up giving…
I'm new to the association and am looking for advice on the relative merits of CIC for a musical group. Up till now we have been operating as a 'charitable orgisation' but we need the flexibilty of raising funds by performing for money. The company would still like to remain NPO but would like a more professional constitution.