A community investment cooperative is a socially responsible investing option which is an alternative form of investing that supports local businesses.
1. Start by assessing the needs in your neighbourhood and the interest in the development of a community investment cooperative.
2. Offer an information session for your community that would outline the concept of CICs and how this can support your community.
3. Invite other experts who may have started or are involved in CICs to offer additional support and information.
4. If sufficient interest and desire, then begin to build a business model and identify neighbourhood projects or businesses that fit with your model.
5. Connect with legal and accounting experts who can offer guidance as your founding group develops your CIC.
6. Familiarize yourself with business structures, relevant legislature, and regulations to determine if the investments could be considered RRSP eligible as an added benefit.