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A Community Interest Company (CIC) is a relatively new type of company introduced by the UK government in 2005. Its’ structure has been designed for social enterprises like Your Hwb that want to use their profits and assets for the public good. You can find out more about Community Interest Companies from the CIC Association’s website.

Your Hwb became a Community Interest Company (CIC) in December 2015. Our decision to become a CIC confirms our commitment to be locally focused. We offer a professional, affordable way for local enterprises to promote themselves to local residents and promote community orientated events and activities where ever possible. And, becoming a CIC means we’ve committed to ensuring that a minimum of 20% of any profit we may generate will be reinvested back into local community projects and activities. Great news for all involved!

As a social enterprise:

  • We have clear community and social objectives.
  • We trade and operate in order to fulfil this purpose.
  • Surpluses are principally reinvested in to Your Hwb or distributed for the benefit of the community and are not used to maximise profit for shareholders.
  • We have jointly given in excess of 2000 hours of our own time, unpaid, over the past two years to get Your Hwb up and running.

We chose to set up Your Hwb as a Community Interest Company because:

  • We want to work for community benefit with the relative freedom that comes with the non-charitable form. This freedom allows us to identify and adapt to circumstances as they develop. And our asset lock, which underpins all CICs, provides a clear assurance of our not-for-profit distribution status
  • We can retain strategic control for our business which is essential for Your Hwb as it develops and matures
  • As a social enterprise, we work to create benefit to the community
  • We want to do good, ethical business
  • We need to work smart at all times to get best value for limited time and resources. CIC status enables this.

A Community Interest Company’s objects must stipulate that it carries out “activities that a reasonable person might consider are activities carried on for the benefit of the community”. Your Hwb’s activities are undeniably focused for this purpose.

Community Interest Companies are one of the fastest growing community oriented enterprise movements in the country. Roughly 1 in every 200 new companies last year was a Community Interest Company and as of Jan 2017 there are more than 13,000 on the Regulators’ register.

If you would like to know more about how Your Hwb works and how we operate as a Community Interest Company, do get in touch. We’d love to hear from you.

Making people happy

Stories from the people who use Your Hwb.

Great mag, servicing the area well. Lots of nice feedback from our ad in here

Cai Ross Paysanne, Deganwy

Your Hwb is very impressive. Handy to have a list of businesses & services from within the beautiful village of Llanfairfechan. A big thumbs up ladies on creating a booklet that can of use to all of us. Well done.

G.H. Llanfairfechan

On a recent walk from Penmaenmawr to Abergwyngregyn, we called into the Village Inn. May I say what a superb meal. We picked up a copy of Your Hwb. What a great idea, please keep up the good work.

Mrs & Mrs Bawden Abergwyngregyn

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