A guide to third sector trading - WCVA

More documents

Recommendations

Info

It’s an idea, but is it business? A guide to third sector trading 1: Getting started 2: First steps 3: Business planning 4: Legal and governance 5: Funding and resourcing 6: Financial controls 7: Managing growth 8: Management and governance 9: Social enterprise 10: Sources of support • Are you getting involved in trading activities which could create personal financial risks for your members – eg if the business failed, or if there were unforeseen and uninsured losses? • Will it genuinely improve your image with funders and supporters? – groups should be careful about coming under pressure from officers in public bodies who do not really understand the third sector; there may be no harm in registering when you are told to, but get independent advice from a support agency if you are concerned. What is the best time to register the company? • Not too soon: Some organisations choose to register as limited companies from the very start. − if you register before you have done the business planning you risk choosing an inappropriate company structure − technical discussions about the memorandum and articles and responsibilities of directors can sometimes be a distraction for a new group, and they may also put off potential members. • When activities demand it: It may be better to leave incorporation to the time when you can see the practical needs for company status, for example: − to set up the board of directors who will take responsibility for implementing a newly completed business plan − when you have to take action on property or employment issues − if your existing unincorporated association structure starts to get complicated. • Before registering as a charity: If you intend to set up a charitable company you need to plan the company incorporation and the charity registration together. The new Charitable Incorporated Organisation (CIO) structure, (which is expected to be introduced in 2011 after some delay) will make this easier than the two-stage process in the past. (See sections 4.3 and 4.4 on types of structure and charity trading below.) If you register an unincorporated association as a charity first and decide afterwards to turn it into a limited company you will have to re-register the charity. This is more complicated, and involves: − reapplying to the Charity Commission for charitable status for the new company or CIO − transferring the assets from the old to the new organisation (you probably need professional advice on this) − formally winding up the unincorporated association. 76
It’s an idea, but is it business? A guide to third sector trading 1: Getting started 2: First steps 3: Business planning 4: Legal and governance 5: Funding and resourcing 6: Financial controls 7: Managing growth 8: Management and governance 9: Social enterprise 10: Sources of support What’s involved? There are a few basic steps to company registration: • make the decision to incorporate • decide when to incorporate • choose an acceptable name which is sufficiently different from other existing registered names, which is not legally restricted, and which you are confident will not cause conflict with users of similar trading names (see Companies House guidance) • draw up the memorandum and articles of association; it’s extremely easy to base these on a model set available from: − your local county voluntary council − the Charity Commission (even if you are not planning to apply for charitable status at this stage) • read and complete the relevant application pack and apply to Companies House (with a small application fee), or to the Charity Commission for a Charitable Incorporated Organisation (free application). Contacts Companies House: Company formation packs, information leaflets and Companies House forms are available from Companies House Crown Way Cardiff, CF14 3UZ Phone the Companies House Contact Centre 0870 3333 636 Web site: www.companieshouse.gov.uk Charity Commission: www.charitycommission.gov.uk − your parent organisation (if you are a local independent branch of a national body) − umbrella bodies, support agencies and membership organisations which support your group’s activities − Companies House 77
Page 1 and 2:
It’s an idea, but is it business?
Page 3 and 4:
Page 5 and 6:
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28: It’s an idea, but is it business?
Page 77: It’s an idea, but is it business?
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
Page 199 and 200:
Page 201 and 202:
Page 203 and 204:
Page 205 and 206:
Page 207 and 208:
Page 209 and 210:
Page 211 and 212:
Page 213 and 214:
Page 215 and 216:
Page 217 and 218:
Page 219 and 220:
Page 221 and 222:
Page 223 and 224:
Page 225 and 226:
Page 227 and 228:
Page 229 and 230:
Page 231 and 232:
Page 233 and 234:
Page 235 and 236:
Page 237 and 238:
Page 239 and 240:
Page 241 and 242:
Page 243 and 244:
Page 245 and 246:
Page 247 and 248:
Page 249 and 250:
Page 251 and 252:
Page 253 and 254:
Page 255 and 256:
Page 257 and 258:
Page 259 and 260:
Page 261:
show all

A guide to third sector trading - WCVA

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?