Community interest company business plan examples

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And in response to that, and in response to a strong public opinion that this was an asset that should be kept in public ownership, the physical assets, the canals and the waterways were passed into a community interest company.

It's really part of a wave of new initiatives, new legislative initiatives we're seeing globally to respond to this great enthusiasm for social entrepreneurship.

Social enterprise business plan template

Treat it like a story Every brilliant story has a beginning, middle and end. We became walking parrots asking any social enterprises we encountered: how did you get started? Are you feeling inspired? A second example of a community interest company which has got a very interesting business model, which is different to that of Bikeworks is the Canal and River Trust. Helen, welcome here today. CICs will be organisations pursuing social objectives, such as environmental improvement, community transport, fair trade etc. They include local community enterprises, social firms, mutual organisations such as co-operatives, and large-scale organisations operating nationally or internationally. Above all, this is one element of your business plan you do not want to get wrong! Social enterprises are playing an increasing role in regenerating disadvantaged areas, empowering local communities and delivering new, innovative services at local level. And one of the big benefits of the community interest company is that the assets held by the organization are held for community benefit in perpetuity, so the business model provides protection to people that they can be confident that those rivers and waterways will be held in the community interest company for the benefit of the public to be able to use them in their free time. This content is brought to you by Guardian Professional. My advice is start with small steps and don't be dismissive of small amounts, they all add up and all help.

It's very difficult to find people who can combine the two factors, social passion and business acumen. A social enterprise is a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.

What a complete waste of time for all parties! Other sources of funding include regional schemes and angel investors, with ClearlySo Angelsthe first UK angel investor network for social ventures, launched in to provide investment and mentoring to social enterprises.

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I suppose more and more people are registering CICs, so they need to be vigilant. That's the economic activity. These are the most common questions that need answering in every business plan, no matter the sector in which it sits. Below are my top five challenges and how we overcame them. So those are two considerations. What was wrong with the existing legal forms? Since the legislation in , we've had several thousand organizations adopt the CIC format. In the UK, many of the canals and waterways were under the control of a government, a public sector organization, and they were responsible for the upkeep of the waterways. It could do, and we could see lots more organizations like CICs, taking up some of those criteria in future, particularly in places where it's difficult for nonprofits to trade or it's difficult for cooperatives, and for- profits really are not trusted very much. Do you want an organization with a wide membership that's got close links with the community? Now I'm sure that many people are familiar with organizations like charities that have charity shops to generate revenue, but the legal structure is that the trading is carried out under a separate organization, which generally gifts back the surplus to the charity. To set up a CIC, you need to apply to Companies House, and: include a 'community interest statement', explaining what your business plans to do create an 'asset lock'- a legal promise stating that the company's assets will only be used for its social objectives, and setting limits to the money it can pay to shareholders get your company approved by the community interest company regulator - your application will automatically be sent to them The CIC regulator has guidance on CICs , including the forms you need to set one up.

Social purpose. Tell the story about your beginnings Social enterprises benefit from fantastic stories about their reasons for being. Yet some of the legal forms were originally designed for completely different types of organisation.

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And this mapping exercise is looking at 28 countries, and looking at what they understand by social enterprise, and it's using the definition of social enterprise put out by the Social Business Initiative, which draws very much on the EMES definition.

The measures that, the indicators that we have are an economic activity.

social enterprise business plan template

You also need to think about where you get your finance from.

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How to set up a social enterprise