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Question added to topic Grow Your BusinessFebruary 17, 2009

Should I turn my for-profit business into a non-profit?

Are there any benefits? I am a small for-profit company looking to expand. I am looking to get money for expansion. Am I more likely to get a loan if I switch to a non-profit?
You would need to see the benefits for you in your particular locale and municipality, and talk to a good tax accountant or tax lawyer to see what advantages you may gain from this change.

Generally you might find some advantages, but in this market, probably not. Again, an expert would be able to help you find benefits, but realize we are in a market where many of the "old" rules don't apply -- especially when it comes to the credit markets.

Brad Sugars is the founder and chairman of ActionCOACH. As an entrepreneur, author and business coach, he has owned and operated more than two dozen companies including his main company, ActionCOACH, which has more than 1,000 offices in 34 countries.

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