The Devon and Cornwall Affordable Housing CIC is a new type of company, designed for social enterprises that use their profits and assets for the public good.
A social enterprise is a business with primarily social objectives, such as the provision of affordable housing, whose surpluses are principally reinvested for that purpose in the business rather than by the need to maximise profit for shareholders and owners.
CIC's are regulated by the Regulator of Community Interest Companies who is appointed by the Government to ensure that the companies are run properly. Each CIC has to submit an annual Community Interest Report to ensure the company has been run for the benefit of the community.
Useful Links
| www.cicregulator.gov.uk | - Information about Community Interest Companies |