Community Interest Companies (CIC)

Community Interest Companies (CICs) are a special type of social enterprise in the UK designed to benefit the community. They operate like regular companies but must demonstrate that their activities serve a community purpose. CICs are regulated to ensure profits are used for social or environmental goals, not just individual gain. They have a unique asset lock, meaning their assets are protected and used for the community if the company closes. CICs can generate income and reinvest profits, combining business practices with a focus on social good, making them a flexible tool for social entrepreneurs.