Frequently Asked Questions

What is the best legal structure for my business?

Legal structure

What are the different legal structures relevant to social enterprise?

https://www.inspire2enterprise.org/wp-content/uploads/2020/01/I2E-Legal-Structures-for-Social-Enterprise-at-a-Glance.pdf

I would like to know more about Community Interest Companies, where can I find further information?

You can find information regarding Community Interest Companies on the gov.uk website:

https://www.gov.uk/government/organisations/office-of-the-regulator-of-community-interest-companies
https://www.gov.uk/government/publications/community-interest-companies-introduction

What are the benefits of a Community Interest Company?

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/266895/10-1388-community-interest-companies-benefits-of-a-cic-leaflet.pdf

How many directors do we need to establish a CIC?

You only need one director to establish a CIC. However, funders may ask for more.

I’m looking to establish a small charity, where can I go to get advice?

The Small Charities Coalition support small charities to access the skills, tools and information they need to get going:

https://www.smallcharities.org.uk

What funding support does Inspire2Enterprise offer?

We do not provide funding to individuals or existing businesses. Please see our Funding Your Business page for information regarding funding organisations.

Where can I go to get funding?

Although Inspire2Enterprise do not provide funding you may want to look at Funding Central (shown in our Funding Your Business page)

I am based outside of the UK and intend to create my business outside of the UK – can Inspire2Enterprise help?

Inspire2 Enterprise exists to support entrepreneurs and existing businesses across the UK. We are unable to provide information, advice and guidance to individuals or businesses that are not based or trading from the UK. However, the content of our website should provide information that may be relevant outside of the UK.

I want my business to be recognised as a social enterprise. Who can help?

Social Enterprise UK are the biggest network of social enterprises in the UK. Their membership is a network that includes all the leading lights of the UK social enterprise movement from multi million pound health care and public service providers to community organisations and retail businesses:

https://www.socialenterprise.org.uk

How can I measure the social impact of my business?

As a social enterprise, one key performance indicator that could be used to review the success of the enterprise would be to undertake the measurement of your social impact.

The monitoring, measuring and recording information on the outcomes that you create will also prove invaluable longer term, by providing content for bid submissions and grant funding applications in demonstrating your social value.

Please see below a link to some further information about Social Impact Measurement.

https://knowhownonprofit.org/how-to/how-to-improve-your-social-value-impact-measurement

The University of Northampton’s Institute for Social Innovation and Impact can provide expert research and information around social impact measurement. Please let us know if you would like us to provide you with their details.

What business support is available in my area?

To find out what business support is available in your local area, contact your local authority:

https://www.gov.uk/find-local-council

Local Growth Hubs provide business support and guidance specific to local areas. You can find your nearest Growth Hub here:

https://www.lepnetwork.net/growth-hubs/