This post covers how Sustainable Communities Hulme transformed from a group of neighbours to a registered company which serves the community.
There are 3 key stages to setting up your communities company:
- Choosing your groups structure
- Registration with Companies House
- Setting up a bank account
What type of company?
The groups structure affects the grant funding you are able to apply for. Generally only non-profit groups are eligible for 100% grant funded projects. Some non-profit group structures are:
- Charities,
- Community Interest Companies (C.I.C.),
- Community Benefit Societies,
- Companies Limited by Guarantee
Definitions for these different groups can be found here.
Why did we set up as a C.I.C.?
Sustainable Communities Hulme decided to register as a Community Interest Company (C.I.C). We chose this route as:
- the regulations were looser and therefore less admin required,
- there is a standard template to complete the C.I.C. application,
- The application requires providing clear objectives which focus on the community,
What will SusCoHulme C.I.C. do?
SusCoHulme’s objectives are to carry on activities which benefit the community and in particular (without limitation) to undertake sustainability focused urban regeneration projects including green infrastructure, and facilitation of energy retrofit, aligning with SDGs: 7 (Affordable and Clean Energy), 11 (Sustainable Cities and Communities), 13 (Climate Action), 15 (Life on Land), and 17 (Partnership for the Goals).
How did we set up?
The documents which we needed to complete were:
SusCoHulme completed an Articles of Association for small membership, this means:
- it is limited by guarantee
- all the directors are also members of the CIC
- all the members are also directors of the CIC
