Posted by: Sabine Kurjo McNeill | January 9, 2012

Community Interest Companies – the UK version of ‘social business’

Who would have thought that each month over 100 new ‘community interest companies (C.I.C.) are registered in the UK?

How CICs are set up and operate is EXACTLY what Muhammad Yunus calls ‘social business’!

CIC legislation was introduced in 2006.

CICs are regulated by an office that is part of Companies House – under the Department for Business, Innovation and Skill – BIS.

The CIC Association was launched in September 2009. By August 2011, 1391 people had registered.

The 3,000th CIC was registered in August 2009.

Please note CIC Invest! for funding!

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Responses

  1. It’s really, really, REALLY amazing that these units are regulated by an organization called BIS.

    Is this a joke? I hope it is.

  2. Hi Anthony

    What’s the joke? BIS are a Govt Department.

  3. Well, BIS stands for the Bank of International Settlements.
    And this is the Rothschild NGO overseeing international banking and destroying us with this crunch and their interest bearing fractional reserve banking hoax………………

    It is really incredibly ironic that an organization overseeing complementary currencies would be called such.

    In fact: it is very typical of Government and the Money Power.

  4. No, sorry, here in the UK, BIS stands also for Dept for Business, Innovtion and Skills!

  5. Yes, I understand, and I don’t doubt you do good work. I regularly keep an eye on Sabine’s sites, I know she’s for real.

    But I also have a very severe case of allergy concerning both BIS, Governments suckered into surrendering the money supply to BIS AND orwellian language, in which both excel…

    But clearly that’s my and not your problem, haha!

  6. In my opinion, social work, community welfare and business should not be mixed up together. If I am trying to do something good for the underprivileged community, I will not try to make any profit from it. I kind of find it unethical. But hey, its just my opinion. I’m sure there are millions out there who’ll disagree with me

  7. If you read Muhamad Yunus “Creating a World without Poverty – Social Business and the Future of Capitalism”, you’ll understand where I’m coming from.

    I.e. use profits to finance the growth of the company, not the investors who may have ‘only’ contributed money.

    “Profit” doesn’t have to have a stigma. But I also find it offensive when charity directors drive big cars…

    Everybody has to make their own decisions – based on their conscience and values.

    Thanks for your thoughtful comment!


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