We’re really excited to share that SustainaBrum has become a Community Interest Company (CIC)!
What is a Community Interest Company (CIC)?
A CIC is a special type of not-for-profit company designed to benefit the community, rather than private shareholders. Unlike traditional businesses, CICs prioritise people and planet over profits. They reinvest their profits back into the community to support social, cultural, and environmental projects.
Why did we apply to be a CIC?
As a CIC any profits we make are only used for the benefit of the community, and so it seemed like a perfect choice for SustainaBrum, to demonstrate our commitment to supporting the community.
Some forms of funding are only available to charities or community interest companies. So one of the main benefits of being registered as a CIC is that we can apply to funding to run bigger and better events in the future.
Being a CIC also means that we are registered on Companies House, as a limited company, which comes with benefits. Being incorporated means that as directors we have limited liability, which offers us a level of protection.
This milestone means we are more committed than ever to making a positive impact on our community and the environment. We’re excited for the future of SustainaBrum CIC!