Firestarter Podcast 8 - Community Interest Companies part 2

This week's podcast features an interview with Adrian Ashton looking at the pros and cons of Community Interest Companies (CICs). This is part 2 of the interview and was recorded at Cafe 72 in Todmorden - the most child-friendly cafe we have ever seen :)

This podcast covers:

  • If you need to raise funding in the early stages, being limited by shares is extremely useful
  • The legal structure you will need to be in the NHS pension scheme
  • Why CICs are being pushed .... sometimes inappropriately
  • CICs cannot be established for political activity or for campaigning
Main cons of being a CIC - part 2
  • The power the regulator has to remove directors, appoint directors and dissolve the CIC without any consultation
  • The regulator can overule the wishes of the CIC's own community
  • The power the regulator has to restrict your trading activity
  • The power the regulator has to instigate civil proceedings (i.e. sue people) on your behalf without your consent
  • The asset lock restricts the level of interest payments to an outside investor or institution

More from Adrian at

Podcast 8 - This can be downloaded here (19 Mb)

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