Good advice from a guy who knows his stuff!
In my last post I discussed the importance of learning some basic accounting functions as a small business owner. However, I did skip an important step that many small business owners and entrepreneurs struggle with – will your business be for profit or not-for-profit? There are hundreds of articles and blogs about this topic and they all eventually lead to one universal answer: it depends. And guess what? They are right, it truly does depend on what the mission of your organization will be when deciding a proper business structure. However, I will tell you from my experience, if you are capable of running a not-for-profit organization (NPO) I would choose this structure 9 times out of 10. Here’s why:
One of the biggest complaints I hear most from business owners who don’t want to start a NPO is fundraising. They don’t want to be reliant on donor…
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