This week's podcast features an interview with Adrian Ashton looking at the pros and cons of Community Interest Companies (CICs). This is part 1 of the interview and was recorded at Cafe 72 in Todmorden - the most child-friendly cafe we have ever seen :)

This podcast covers:

• The history and development of Community Interest Companies
• Why you should never chose your legal structure based on someone else telling you that's what you should be
• Companies limited by guarantee are not a bad default structure
• CICs are a "bolt on" to existing limited company structures
• The key elements of a CIC
• Limited by shares vs limited by equity
• Why children should not be listening to this podcast
• Limitations on the community you are set up to benefit
• Issues around the asset lock and how you can incorporate this in any company
• Co-ops are not legally defined in the UK

Main pros of being a CIC

• Kite-mark that you are a social enterprise
• Provides assurances with public sector commissioners
• The CIC regulator is very helpful and supportive

Main cons of being a CIC - part 1

• Much more bureaucracy in setting one up and in annual reporting
• The Chair has much more power than the other Directors
• The role of alternate directors

More from Adrian at www.adrianashton.co.uk

Podcast 7 - This can be downloaded here (23 Mb)

The music is "Fire Dance" by djbouly and is brought to you under a creative commons licence.