1. Non-for-profit business Lois and Mike

2. How to form it? Main objective is a social enterprise, provides a social benefit. Main objective is a social enterprise, provides a social benefit. Formed by filing bylaws and/or articles of incorporation in the state in which they expect to operate, in USA Formed by filing bylaws and/or articles of incorporation in the state in which they expect to operate, in USA There are three legal forms that a non-profit organization can take. They can be a corporation, an unincorporated association or a charitable trust. There are three legal forms that a non-profit organization can take. They can be a corporation, an unincorporated association or a charitable trust. Recruit board members. (USA) Recruit board members. (USA)

3. Not-for-profit business in the UK Incorporated as a company limited by guarantee Incorporated as a company limited by guarantee Limited liability. Limited liability. Profits reinvested Profits reinvested

4. Advantages Doing something valuable. Doing something valuable. Customers more willing to buy. Customers more willing to buy. Easier to recruit. Easier to recruit. Finance might be easily available. Finance might be easily available.

5. Disadvantages Accept a lower return. Accept a lower return. Work environments can be frustrating. Work environments can be frustrating. Conflict of social aims and profit. Conflict of social aims and profit. There is a constant focus on fundraising. There is a constant focus on fundraising.

6. Questions 1) give 2 advantages of a non profit business? 1) give 2 advantages of a non profit business? 2) give 2 disadvantages of a non profit business? 2) give 2 disadvantages of a non profit business? 3) what is limited liability. 3) what is limited liability.