A Community Interest Company (CIC) is a type of company designed specifically for people who want to run a business for community benefit, rather than purely for private profit. CICs were introduced by the UK government in 2005 and are regulated by the CIC Regulator.
Key Features of a CIC
- Community purpose — activities must benefit the community
- Asset lock — assets and profits must be retained for community benefit
- Transparency — annual Community Interest Reports are required
How is a CIC Different from a Charity?
CICs have more flexibility in how they operate and generate income. They can trade, charge for services, and take on contracts from public bodies — making them well-suited to delivering public services like homelessness support.
Why Seaside CIC Chose the CIC Model
Seaside CIC chose this model because it reflects our values. We are not driven by profit — we are driven by our commitment to supporting people experiencing homelessness in Brighton. Every penny we earn goes back into delivering better services.
As a CIC, we can contract with Brighton and Hove City Council, apply for grants, build partnerships, and reinvest any surplus into improving our services. To find out more about Seaside CIC, please contact us directly.
