Choosing the right business structure is one of the most important decisions a mission-driven business owner will make, and taxes are only part of the story. In this episode, Brian Thompson walks through every major business structure available to entrepreneurs, viewed through the lens of ownership, profit sharing, decision making, and mission protection.

Whether you are just starting out, growing your team, or thinking about the best way to share profits, this episode will help you ask better questions and make a more informed decision about the structure that fits the business you are actually trying to build.

In this episode you will learn:

• Why business structure affects ownership, profit sharing, governance, and mission protection

• The five questions every mission-driven business owner should ask before choosing or changing a structure

• Red flags that your current business structure may no longer fit your vision

• The key differences between sole proprietorships, LLCs, S-Corps, C-Corps, and benefit corporations

• Why an S-Corp may limit your ability to build a mission-driven business over time

• How cooperatives and ESOPs create shared ownership and democratic governance

• What steward ownership and purpose trusts are and why mission-driven founders should know about them

The right business structure is not the one that saves the most in taxes today. It is the one that supports the mission-driven business you are trying to build over the next decade. Ownership, profit sharing, decision making, and legacy all depend on getting this right.

• Episode with D.G. Safeer Hopton on Co-Ops

• Episode with Brian on S-Corps

• Newsletter Sign Up

• Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes

• Follow & review the podcast: on Spotify and Apple Podcasts

Brian Thompson, JD/CFP®, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit.

On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.