In early 2013 the Outdoor Industries Association successfully registered to become a community interest company (CIC) with Companies House.
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. It is a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.
The primary core features of any company holding CIC status are twofold;
- Assets owned by the company are held in an asset lock which secures those assets to applications for the good use of community.
- Limitations applied to dividend and interest payments made to shareholders and financiers ensure a profit can be made, but the primary focus remains on achieving benefit for the community.
For more information about CIC’s please visit the CIC Regulator here.
The industry is not just about the big guys, we need to represent the rank and file of our industry because the independent retailer is absolutely essential for the survival of our business.
The most important aspect of this work (OIA) is the impact it could have on the health of the nation. It could engage people to take part in outdoor activity, including people who might never go to the gym or walk on a football pitch but who will happily go to the park or walk up a mountain.
We talk to each other. We discuss the issues. Genuinely, relationships get built and actions happen and I think that’s to the credit of the OIA for bringing that together.
The OIA’s annual conference has quickly developed into an essential event on the trade calendar. The international speakers, workshops and networking elements are all of the highest standard and the social side of the conference is also really fun!
If we get more people active outdoors, we will fundamentally change the lives of people in Great Britain.