These Community Interest Companies Work for the Public Good
Tiana Reid — February 1, 2013 — Social Good
This Social Business top list of innovative CICs reflect the passing of the United Kingdom government's Companies (Audit, Investigations and Community Enterprise) Act in 2004. The community interest company (CIC) designation is for companies that have a social goal and use their business -- profits and assets -- in order to achieve that goal.
From mental health social enterprises and life-enhancing senior enterprises to bike-promoting community companies and non-profit coffee shops, these innovative CICs have made the new legal definition work for them. Other countries have similar organizational law models such as the Untied States' benefit corporation (or B Corp). The goal is to allow for greater flexibility than a non-profit would have while at the same time maintaining and promoting public good.
From mental health social enterprises and life-enhancing senior enterprises to bike-promoting community companies and non-profit coffee shops, these innovative CICs have made the new legal definition work for them. Other countries have similar organizational law models such as the Untied States' benefit corporation (or B Corp). The goal is to allow for greater flexibility than a non-profit would have while at the same time maintaining and promoting public good.
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