Community Interest Companies (CICs)

Community Interest Companies (CICs) are a type of social enterprise in the UK designed to benefit the community. They are for-profit businesses with a specific social purpose, ensuring that their profits are mainly reinvested to support their community goals rather than personal gain. CICs are regulated by a special framework that includes an asset lock, meaning assets and profits are protected for community use. They operate like regular companies but with a focus on social impact, making them a structure for organizations that want to generate income while intentionally serving public or community interests.