Firestarter Podcast 7 - Community Interest Companies part 1

This week's podcast features an interview with Adrian Ashton looking at the pros and cons of Community Interest Companies (CICs). This is part 1 of the interview and was recorded at Cafe 72 in Todmorden - the most child-friendly cafe we have ever seen :)

This podcast covers:

  • The history and development of Community Interest Companies
  • Why you should never chose your legal structure based on someone else telling you that's what you should be
  • Companies limited by guarantee are not a bad default structure
  • CICs are a "bolt on" to existing limited company structures
  • The key elements of a CIC
  • Limited by shares vs limited by equity
  • Why children should not be listening to this podcast
  • Limitations on the community you are set up to benefit
  • Issues around the asset lock and how you can incorporate this in any company
  • Co-ops are not legally defined in the UK
Main pros of being a CIC
  • Kite-mark that you are a social enterprise
  • Provides assurances with public sector commissioners
  • The CIC regulator is very helpful and supportive
Main cons of being a CIC - part 1
  • Much more bureaucracy in setting one up and in annual reporting
  • The Chair has much more power than the other Directors
  • The role of alternate directors
More from Adrian at

Podcast 7 - This can be downloaded here (23 Mb)

The music is "Fire Dance" by djbouly and is brought to you under a creative commons licence.