CIC Association

Serving Community Enterprise

Hi everyone, 
I am in the process of forming a CIC. i am in the North East of UK. 

If anyone has any advice to offer with regards to anything at all, that would be fantastic as I am going it alone :)

Joanne 

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Replies to This Discussion

Welcome Joanne

happy to answer any questions you have as you progress

best regards

John

Thanks, I'm sure I will have a lot :)

The CIC Regulator's guidance is a good start (although maybe a heavy read): https://www.gov.uk/government/publications/community-interest-compa...

Then feel free to come back with any questions.

James

Thanks, I'm sure I will have a lot :)

Joanne - there is no need to go it alone in the North East - the North East Social Enterprise Partnership (NESEP) - http://nesep.co.uk - is probably the best social enterprise support organisation in the UK, and has a funded social enterprise development programme that will help you with all aspects of setting up, including registering a CIC.  Steve Camm there will help you with this - steve@nesep.co.uk - and he will refer to you to me if you become complicated!

Thanks, I will investigate :)

I am in the same boat in the South Lincs and Rutland area.

Mark - I'm not sure what's available in your area but it's possible CASE-DA might be able to help - http://case-da.co.uk

If not I'm uploading my note on how to register a CIC - this and other guidance - including model constitutions - is also available free on my site at - http://www.socentstructures.org.uk/

Attachments:

Can i just ask what is meant by 'subscribers'?

Joanne, subscribers are the people who sign the memorandum of association and become the first members of the company.

Thanks James, but still not sure if i understand what it means. Do you need subscribers to start up and what would they do?

I am also having a dilemma regarding banking. 

Am I right in thinking I would need 2 signatories (unrelated)? Does the 2nd person need to be named on CIC application as being a part of it? Also, does the bank account need to be a 'business' account or just a current account separate to my own?

I am so confused right now :(

Hi Joanne

The subscribers are just the people who have signed up to be the first members of the company ('subscribing' means 'signing'). Once the CIC is set up you can add other members and don't need to worry about subscribers (example memorandum of association).

All companies have to have members (so, yes, you will need subscribers when setting up the CIC). If it's just you setting up the CIC you can be the sole member. If you are going to be working with other people they can be members too. Members can be individuals (humans) or other companies. Members are different to directors, but they can be the same people if you so choose.

If you are going to have lots of members, it might be best just for a few to be subscribers (to keep the paperwork simple) and then add the rest of the members later (e.g. with application forms).

You asked what the subscribers/members do. This depends on what you put in your CIC's articles, but generally the members elect people to serve as directors of the company (who can be the members themselves) and vote on key issues at the AGM. Read the model articles for more information.

Regarding your second issue, you don't strictly need two signatories for a CIC's bank account but it is considered good practice and some funders (like the Big Lottery) won't release grants unless you have two unrelated signatories.

I think you are asking if you can use your personal bank account for the CIC. This isn't advisable (see here for more info) and if you apply for grant funding they will not pay it to a personal account. We use the Community Directplus from the Co-operative Bank. It's free of charge and relatively easy to set up.

Regards

James

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