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Farouk Bizima

CIC (Community Interest Companies)

Posted By

Hi,

What are the basic 'do's' and 'dont's' of CIC transactions?

I've got a prospective client who is a CIC and I need to quickly understand how their business should operate, that is significantly different from normal businesses being run for profit.

For example;

- Are they allowed to make profits?

- Can they give dividends to shareholders?

- Is Directors Loan Account allowed?

- Who are their usual customers?

- Do they have a mix of customers and donors?

Thanks.

Farouk

*Community Hub is the new name for Sage City

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