A community interest company (CIC) is a new type of company introduced by the United Kingdom government in 2005 under the Companies (Audit, Investigations and Community Enterprise) Act 2004, designed for social enterprises that want to use their profits and assets for the public good.
Community interest companies are intended to be easy to set up, with all the flexibility and certainty of the company form, but with some special features to ensure they are working for the benefit of the community.
...and the good news, Brighton has a thriving third sector!
There were over 1500 third sector organisations in the city employing around 8000 people which is seven per cent of the total employees in the city, in 2008. Volunteer activity co-ordinated by these organisations was equivalent to 57,600 hours, which, of paid for at the same rate as third sector employees, would be worth £24 million!
The economic contribution of the third sector to the city was estimated to be £96.25 million in 2008*
We are very proud to partner with many of Brighton and Hove’s social enterprises and here you will find out all about what they do and how they help our local community