Why is SPW a CIC and What Is a CIC?
Discovering Community Interest Companies (CIC):
CICs like SPW blend the mission focus of a charity with the practicality of a business, they have the ability to work towards social goals while also harnessing the power of income generation.
Distinct from a Charity: Impact Meets Sustainability
While charities are all about creating positive change, CICs take this to the next level by adding a focus on financial sustainability. Much like charities, CICs are committed to benefiting the community or specific groups of people. However, CICs also bring in some business acumen to ensure they can keep making a difference in the long term.
Think of a CIC as the bridge between the heart-driven work of charities and the strategic thinking of a business. They combine the best of both worlds to create something both innovative and impactful.
Mission Before Profits
In contrast to traditional businesses, which often focus solely on profit generation, CICs have a unique values-driven compass guiding their decisions. While they do bring in income, their primary objective isn't to maximise profits for shareholders. Instead, CICs prioritise the interests our community of single parent families. The values of the CIC directly impact how the business side operates, as well as the grant funded projects.
A business might measure its success by financial gains, while a CIC measures success by the positive societal change it brings. It's a business that has an altruistic heart, always working towards a better world. Making sure that the profits are reinvested into key projects and ideas from our community, mainly through our Community Pot.
Amplifying Impact Through Funding
CICs have the ability to attract grants and funding. Because they're dedicated to creating social good, CICs can explore grant opportunities that align with their mission. These grants provide financial support to carry out projects, initiatives, and programs that directly benefit the community they serve.
CICs stand out when it comes to grant applications because they embody the best aspects of both charities and businesses. Their commitment to making a difference draws the attention of grant providers, while their sustainable approach ensures that the impact keeps growing even after the grant funds are utilised.
Grant Focus: Tailoring Change for Impact
CICs often focus on grant-funded projects that resonate with their core mission. This focus ensures that every bit of a grant is used to its fullest potential, creating targeted and impactful change. All our projects are piloted and the ideas orignate from our community with coproduction at the heart.
Whether it's empowering single parents, improving mental health through owrkshops and emeet ups or addressing single parent issues, CICs like SPW directly address the needs of their communities. SPW is also peer led so seeks grants for projects that are highlighted as a need by our community.
Positive Change and Financial Health
SPW combines the heart of a charity with the strategic mindset of a business. It doesn't just chase profits or rely solely on donations; instead, it leverages grants to amplify its impact and make meaningful changes in society. All of which go into our Community Pot to grow our community and offerings even more.
By being a CIC, SPW has the ability to continue to provide for our community more sustainably and for the longer term, without relying on individual donations.