Regular readers of my blog will know I'm a big fan of social enterprises - businesses which plough all or a large part of their profits into social, community or environmental causes. I believe they are the future of business and are much better at solving society's ills than traditional, public sector driven methods. With that point in mind, recent news that ECT Recycling, one of the UK's most successful social enterprises and a supplier of waste disposal service to the public sector, has been bought out by May Gurney, a maintenance and support services company listed on the Alternative Investment Market, interested me greatly.
ECT is a community interest company, a new type of limited company introduced by the government in 2005 for those wishing to operate for the benefit of the community rather than the owners of the company. It appears that ECT is the one of the, if not the first, CIC to be taken over by a private, stock market listed firm. So what does this mean for the sector?
Click here to read my blog in full.
ECT is a community interest company, a new type of limited company introduced by the government in 2005 for those wishing to operate for the benefit of the community rather than the owners of the company. It appears that ECT is the one of the, if not the first, CIC to be taken over by a private, stock market listed firm. So what does this mean for the sector?
Click here to read my blog in full.
