10 years ago London was a much different place. Boris Johnson had just been elected Mayor of London, construction work was starting on the stadium for the 2012 Olympic Games and polls were showing that David Cameron was on his way to becoming the next prime minister.
Looking locally, King’s Cross looked different too. Businesses like Google, University of the Arts, Universal Music and Louis Vuitton didn’t make their way into the area until a few years later.
However, on York Road something was already happening. Impact Hub King’s Cross opened its doors for the first time.
Over the last 10 years of our existence, Impact Hub King’s Cross has brought together a diverse group of like-minded and passionate people. We have built a community around bringing about positive social and environmental change. We have helped social entrepreneurs make an impact with our multifaceted and people oriented solutions.
We know that solutions come in different shapes and sizes; coworking space, inspiring events, programmes, meeting and event space, an online platform and business support. A flexible, tailored mix of these solutions, combined with our locally rooted, global community, is how we enable growth in our members.
We’re like one big family. We believe in helping each other out and in collaboration. And even though we might not always agree, we promise to be there for each other when it matters most.
We are hungry for better. A better world, a better society, and a better way of doing business. We refuse to settle, and are always searching for better solutions with optimistic curiosity.
Our doors are open to everyone. But more than that, we embrace truth. We learn from failure and encourage feedback, even when it’s difficult to hear. After all, we’re all in this together.
We are not afraid to take considered risks. Of saying no, tough choices, or difficult conversations. Yes we feel the fear, but we do it anyway!
We are curious, creative and prepared to try new things. Even if that means stepping outside our comfort zone or going the extra mile. We are resilient and persistent – and when something matters, we refuse to give up.
We’re human. We have challenges, bad days and times when things are a little rough. That’s why we practice empathy, flexibility and understanding so that our space is a place where everyone can bring their whole self to work.
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Impact Hub King’s Cross is made up of two separate but linked organisations.
The Hub King’s Cross Limited:
The Hub King’s Cross Limited is our for-profit company (limited by shares).
It was founded in 2007 and holds the lease for 34b York Way. One of the most important things to know about this organisation is that it is a member of the Impact Hub Global Association.
This means that we share the same intentions as the Global Company. Namely, ‘to inspire, connect and enable people to take entrepreneurial action in order to pioneer a just and sustainable world where business and profit are used in service of people and planet’.
In practice, this translates to our support for the UN’s sustainable development goals (SDGs) through our activities. We also reflect this intent in our governance, which is why we are:
A Certified BCorp…
Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy.
Becoming a certified B Corporation means that it’s written into our Articles of Association that our directors are required to serve all stakeholders, including wider society and the environment. This also means that The Hub King’s Cross Limited has no legal requirement to prioritise the interest of shareholders.
A Certified Social Enterprise…
Social Enterprise UK are the biggest network of social enterprises in the UK. As a certified member, we commit to ensure that at least 50% of net profits are re-invested in support of our social purpose.
Signed up to Big Society Capital’s guidance for for-profit social sector organisations…
Our directors have committed to cap any dividend payouts at no more than 50% of net profit.
We contribute to our not-for-profit sister company
We are committed to donate at least 15% of our profit before tax to our not-for-profit sister company, Impact Hub King’s Cross Limited, on a fully unrestricted basis.
Impact Hub King’s Cross Limited:
Impact Hub King’s Cross Limited is our not-for-profit company (limited by guarantee).
The not-for profit was set up by The Hub King’s Cross Limited in 2014 to focus on social inclusion, primarily by grant-funded programmes. These programmes are designed to inspire, encourage and enable members of under-served communities to embark on their own entrepreneurial journey and contribute to the social economy. In doing this we benefit from and leverage the knowledge and resources of the Impact Hub Global Association and The Hub King’s Cross Limited.
Impact Hub King’s Cross Limited has its own board of directors, including one representative of The Hub King’s Cross Limited. Shareholders of The Hub King’s Cross Limited are not permitted to serve as directors of Impact Hub King’s Cross Limited.
The exciting part…
Impact Hub King’s Cross Limited is currently in the process of applying to become a UK registered charity. We will keep you posted on news about this when we have some more information to share!