SOCIAL MISSION ORGANISATIONS
Social Mission Organisations (also known as Third Sector Organisations) are institutions that conduct their affairs primarily for the purpose of assisting other individuals, groups, or causes rather than garnering profits for individuals owners or founders of the organisation.
Typically, SMOs are set up and ran by individuals who are passionate about a particular cause (e.g. the homeless, the elderly, the environment, education, sport) and want use their commitment to provide social benefits to their target group or society at large.
As a potential new SMO founder, there are some key formation issues you need to deal with. Chiefly, these are deciding whether to operate as a social enterprise or a voluntary organisation /charity and determining which legal structure is best for your project.
These decisions, along with other formations matters, can become very complex so to help in this regard we have created a robust formation package which can handle the entire formation process for you.
The SMO Formation Package
At FD 4 Start Ups we adopt a collaborative approach to formations which enables us to provide you with a comprehensive and fully supported formation package that includes;
O Clearing your proposed business name for use and , where required, advise on the strategies to prevent your
name and brand being used or exploited by third parties.
O Ensuring you make the right choice between Charity, Social Enterprise, or whether to bypass them completely
O Setting you up with the correct legal structure for your circumstances
O Ensuring that you have an appropriately written constitution and a properly drafted objects clause to prevent your application being rejected by the relevant institutions (e.g. HMRC, the CIC regulator, the Charities Commission, banks).
O Signing you up to the relevant HMRC departments / gateways(e.g. PAYE, VAT, Gift Aid, etc).
O Carry out a full compliance check of all the legislation and regulations that you need to comply with
O Provide you with the details of any suitable FREE or affordable government schemes you can benefit from (e.g. grants, training opportunities mentoring, advice, etc).
O Providing you with a personalised Readiness Checklist for you to work through to help you put in place all the features expected of a start up SMO making your project more appealing to beneficiaries, funders and other stakeholders.
f you already have an up and running organisation we can look at what you are currently operating under and see whether you need to make any changes based on your current circumstances and/or future plans.
Our formation fees, including any consultations, are based on the SMO legal structures chosen for your project and any extras requested. However, in general our formation fees range between £100 to £150. The main exception to this are Charities and Industrial and Provident Societies formation fees which start from £250.
If you want to discuss your project generally you can Contact Us by Whatapp, phone or by e-mail.
However, if you ready to start your formation we ask that you read our SMO Legal Structures guide and then complete our SMO Formation Contact Form (see below) so we can support you properly from the outset.