CIC Association

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Why are there so few of these companies 

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Comment by John Mulkerrin on November 26, 2013 at 13:21

Roughly 1 in 200 new businesses started in the last 12 months is a CIC Paul, so Id say the only reason there isnt more is because we havent been around long enough. I founded one of the first 100 CICs and suggest the reality is CIC is booming by most standards, however I do believe there is a lot more to come as it beds in.

Collectively employing tens of thousands with turnover now into the multi-billions,  from kitchen table startups to multi-million pound statutory provision contracts, across all the regions and more densely populated in poorer areas, CIC is proving useful to all types of community activity.

There are now more CICs than Co-ops, not that bad considering we're only just over 8 years in and original expectations were for 100-300 per year. 8316 on the register at the moment, and each month the figure of new CICs starting continues to grow.

The potential changes to the CIC Share Caps and the new SITR (Social Investment Tax Relief) will both be announced 10th Dec and will (I believe) create a spike in new CIC Share companies to boost incorporation rates further, but can I ask what makes you think there are so few?

I think the numbers are pretty sensational and have surprised most, we definitely have a job to get the message out there but CIC is the fastest growing part of the social economy and you should see it is a positive story, for eg there are more CICs formed than there were Companies formed when they first came into being



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