Social Firms UK

Social Firms UK has launched the second in its series of template memorandum and articles for use by Social Firms and other types of social enterprise: the Share Community Interest Company (CIC) structure. There are comprehensive guidance notes accompanying the template which help the reader understand the potential of this legal structure and how best to use it as a way of leveraging more private investment into the social enterprise sector. The first in the series was produced a few years ago for the then most popular legal form chosen by Social Firms: the not-for-profit guarantee company. Social Firms UK decided to produce the share CIC guidance and template on seeing that an increasing number of its members were interested in this relatively new legal structure and recognising the potential of the Share CIC, for example, in creative fundraising, not being fully realised.

Have you chosen a legal structure for your Social Firm business? Are you in the process of choosing a legal structure for your Social Firm business? If you are in either of these situations, and are considering the use of the Company Limited by Guarantee, then this new resource will be of interest to you. Social Firms UK, in partnership with Geof Cox at Economic Partnerships Ltd, has recognised that the majority of Social Firms are currently choosing to adopt the Guarantee Company form and have taken the steps of forming a template Memorandum and Articles for Social Firms wanting to register their business in this way.

The template was updated in December 2009 in the light of recent changes in legislation.