According to the US Small Business Administration, there were 30.2M for-profits in the US in 2018, with almost a 50/50 split between people working for large (>=500 employees) and small (<500 employees) companies. Meanwhile, the National Center for Charitable Statistics reported there being 1.5M non-profits registered with the IRS in 2015. These non-profits contributed just shy of a trillion dollars (5.4% of GDP) to the economy with 1 in 4 American adults volunteering in 2017. Big numbers on both sides for sure. With all this context — if you are an entrepreneur trying to decide whether to make your idea…...
Should I Incorporate My Idea As A Non-Profit Or For-Profit?
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