Community Interest Company

Neither a for-profit nor a charity, the Community Interest Company is a new form of corporation, one that is run for the benefit of the community. Unlike a charity, it can generate profits, so long as they are used for the purposes identified in its constitution. The UK now has a legal form, regulations, and a registrar for them, but Canada does not. The CIC is an example of the Social Enterprise, a concept that has been current since 2001, and is still being explored. It might help solve problems like this one.

Comments are closed.