Radical plans to create a new type of ‘community interest’ company, bringing together voluntary sector expertise and private sector entrepreneurialism, have been announced by the Department of Trade and Industry.Secretary of State for Trade and Industry Patricia Hewitt said: “This is about giving power back to local communities. Community Interest Companies will help liberate the entrepreneurial spirit of individuals with public sector values and create new opportunities at local level to provide services where they are needed most. The opportunities created by CICs will be a huge boost to communities in many of the UK’s most deprived areas.”
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