What is a Social Enterprise?
The government defines social enterprises as “…… businesses 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” Social Enterprise: a strategy for success, 2001.
Social enterprises are businesses driven by social objectives. Many commercial businesses would consider themselves to have social objectives, but social enterprises are distinctive because their social purpose is central to what they do. Rather than maximising shareholder
Some examples of social enterprises
The Eden Project and Jamie Oliver’s restaurant Fifteen are examples of social enterprises. So are award winners Divine chocolate a fair-trade chocolate company co-owned by the cocoa farmers cooperative Kuapa Kukoo in Ghana. Social enterprises cover a huge range of industries – Cafedirect is a social enterprise and also the UK’s largest
What is a Community Interest Company (CIC)?
Teresa Lewis and Paul Lewis, the founders of Lewis Psychology CIC, are philanthropic entrepreneurs who wanted their work to benefit the wider community with a clear assurance of not-for-profit distribution status. The community interest company (CIC) model met their need for a transparent, flexible model that is clearly defined and easily recognised as a social enterprise.
The Asset Lock, a fundamental feature of CICs, ensures that the assets of Lewis Psychology CIC (including any profits or other surpluses generated by its activities) are used for the benefit of the community.
Lewis Psychology CIC are absolutely committed to supporting sustainable businesses and consequently helping local communities to thrive and prosper.
Lewis Psychology CIC submit an annual CIC report to Companies House which must detail, as a minimum:
- The work the CIC has undertaken during the year to benefit the community.
- How the CIC has consulted its stakeholders.
- Information on the transfer of assets (if applicable)
If you would like to view our latest CIC report please contact us. Alternatively, CIC reports can be viewed by contacting Companies House as follows: General enquiries, CIC Regulator, 2nd Floor, Companies House, Crown Way, Cardiff, CF14 3UZ or by emailing: firstname.lastname@example.org