Obviously you don't need it coded to use as a safety boat or for powerboat training for your cadet group.
In order to get it coded you will have the added expense of liferaft, extra insurance and a load of other kit you might not have on it at the moment. This might be quite hard to stow in a 5.4 Searider. If it was coded then yes, you could take paying passengers out in it as long as you were a commercially endorsed skipper. You might struggle to get many passengers in it though, which means you might have a job actually "selling" it to many people. Presumably it has the standard three man seat in it? You could possibly pimp it out as a marshalling boat for events, or take a photographer out in it though.
All IMHO of course.