Thames Baths to focus on Community Interest
Ever since we first sketched out the original concept for Thames Baths, we have always wanted to build something that benefited the community and allowed them to participate in its creation. The latter is one of the reasons why we are launching crowd-funding on Kickstarter in the next few weeks. The former is a key decision in the way we have decided to incorporate the company.
It seems fitting that the creation of a new public space along the River Thames should be run as a social enterprise rather than a company dictated by profit. A truly public space created for the people that use it, not those that own it.
Today we applied to become Thames Baths Community Interest Company (CIC). It is a choice we are hugely excited by, extremely passionate about and feel it shows how dedicated we are not only to making this happen, but to making it meaningful for the community where it will be built.
When established as a CIC we will be able to use our profits and assets for the public good, in this case, safely re-introducing access to urban waterways for swimming and recreation, for all, especially local schools, children, and other community groups.
Thames Baths CIC will return any financial surplus into its objectives locally, nationally and eventually, internationally. It will also have a mandatory ‘asset lock’, so that donors and investors can rest assured that their money will be legally tied to the enterprise’s original social goals.
As a CIC our dynamic, creative enterprise will be able to channel its energies towards the strengthening of community in which it exists not just now, but long into the future.
If you’d like to understand more about Community Interest Companies then the following articles and sites helped us: