What are the Benefits and Challenges of Starting a Non-Profit?
Starting a non-profit can be highly rewarding but also fraught with challenges.
Benefits: - Social Impact: Directly contribute to solving societal problems. - Tax Exemptions: Many NPOs qualify for tax-exempt status. - Community Support: Often receive significant community backing.
Challenges: - Funding: Constant need for fundraising and grants. - Regulatory Compliance: Must adhere to stringent laws and regulations. - Sustainability: Ensuring long-term viability can be difficult.