As a new start up, the Arch board had a range of available options for what type of vehicle would be best to deliver the kind of care they believe is required. A relatively new model called a Community Interest Company or ‘CIC’ was chosen.
According to the CIC Regulator website “A Community Interest Company (CIC) is a limited company, with special additional features, created for the use of people who want to conduct a business or other activity for community benefit, and not purely for private advantage.”
This model is the best best fit for Arch Healthcare because it has all the rigour of running a professional business but all its assets are ‘locked’ and cannot be used for any other purpose than to benefit of the community which the organisation exists to support. Regardless of any surplus which is made by the company no dividends are paid to the directors. Importantly as a social enterprise Arch is entitled to apply for grants from various trusts, receive direct charitable donations and raise additional cash through trading. These multiple income streams will be vital in building a surgery experience beyond the limits of commissioned services.