Company Structures | Community Interest Company (CIC)

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Comment by John Mulkerrin on December 29, 2017 at 13:31

@GeoffHolt - Very interesting, indeed a social franchise and would love to arrange a call in the New Year. Congrats on your awards, I imagine there'll be a few more coming.

Best

John

Comment by Geoff Holt on December 29, 2017 at 11:25

We have taken the CIC a stage further. I created a structure whereby we have a national charity (Wetwheels Foundation 1148600) and we licence our Operators to deliver our national development strategy. Those Operators are CIC's and are licensed to the national charity. The asset lock is the national charity. We currently have 4 Wetwheels CIC Operators (Solent, Hamble, South East & Yorkshire) with another 10 to be set up over next 5 years. There are many benefits and few negatives. It is almost a "social franchise".  All our CIC's are running sustainably, supporting disabled people in our geographic community as per our AoA. I say "geographic" community because I also consider the disabled community and marine community as legitimate "communities" when referring to a CIC. The structure won us "Disabled entrepreneur of the Year" in 2015 and the Global Philanthropic Award in 2015. Happy to share if anyone interested.