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What is a CIC?

CIC stands for ‘Community Interest Company’.

This is a not for profit organisation that aims to improve the lives of the people it supports and employs. All profits are reinvested into the company and the people it supports, rather than maximising profits for owners and shareholders.

What this means for BBEST Community Hub CIC is that profits would be reinvested into the company and local communities to benefit children in our schools we support, their families, our support teams and people who may require support in the future.

Links between our children and their families and the community are essential for both parties; this is how friendships are formed and community projects come to fruition.

BBEST Community Hub CIC actively encourages our children and their families to access their local community and get involved in local projects and events – as a man wiser than us once said “it takes a village to raise a child”.

Wikipedia’s Definition

A community interest company 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. CICs tackle a wide range of social and environmental issues and operate in all parts of the economy. By using business solutions to achieve public good, it is believed that social enterprises have a distinct and valuable role to play in helping create a strong, sustainable and socially inclusive economy.

CICs are diverse. They include community enterprises, social firms, mutual organisations such as co-operatives, and large-scale organisations operating locally, regionally, nationally or internationally.

There is no single legal model for social enterprise. They include companies limited by guarantee, industrial and provident societies, and companies limited by shares; some organisations are unincorporated associations and others are registered charities, industrial and provident societies.

Click here to read more from Wikipedia on ‘What is a CIC?’

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Our Accounts

Please visit Companies House website for our up to date accounts:

https://find-and-update.company-information.service.gov.uk/company/11824464