I'm currently chair of a small charity. We have recently obtained funding to set up a new local food project and we want to create a trading subsidiary under which to run this project.
I've been told a CIC would probably provide the best option, allowing us to provide a mix of offers, including:
1. Full trade activities i.e. selling local produce to the community and tourists via a shop and website and creating a local box scheme
2. Free and cost recovery activities e.g. running a mix of free and cost-recover training workshops for young people
All profits would go back into supporting the project and / or other community activities. It is likely a % would also go back into the parent charity to support overheads.
The project will employ two staff initially - a shop manager and director.
Cany anyone provide any advise whether this proposal would be acceptable and how we go about setting it up.
Any help gratefully received.
If you plan to do the paperwork yourself start here:http://www.bis.gov.uk/cicregulator/forms-introduction/index/forming... .
Any questions please post or Im happy to have a conversation on the phone, I can also refer you to some company formation groups if you prefer.
A conversation would be really helpful. I'm in meetings all day today, but free tomorrow from around 1630. Also free Wednesday am and Thursday pm. Happy to call you if you let me have your number.