Importance of Retirement Plans for Small Business Owners

When you start a small business there are many benefits, not the least of which is the fact that you get to be your own boss. While the work is hard and often thankless, in the end you are able to build something of your very own. The thing that can be tough to remember […]

Naperville Lawyer Highlights Helpful Resource: the Illinois Small Business Development Center

When you start or run a small business, you may have several logistical concerns. Some may be best dealt with by seeking the advice and assistance of a business law attorney. However, there will be times when it is appropriate to reach out to community resources specifically designed to assist small business owners. One such […]

New Illinois Small Business Retirement Plan Signed into Law

Traditionally, the benefits employees receive beyond certain minimum wage requirements have been a matter determined through negotiations between businesses and their employees. However, a new Illinois law will change that for many small businesses. This new employment law will change the face of retirement benefits. New Law Will Create Retirement Plan Requirements, Even for Some Small […]

What Does the New Republican Led Congress Mean for Small Businesses?

The power shift that has occurred as a result of Republicans gaining control of the U.S. Congress could provide small businesses in Illinois much needed relief with regards to federal taxes and other regulations. However, though Republicans have gained a majority, the possibility of new laws and reforms being passed could be impeded by both […]

Potential End to U.S. Export-Import Bank May Impact Illinois Exports

Illinois is one of the top five states in the nation when it comes to exporting services and goods abroad. In fact, the state exports over $66 billion in services and goods each year, allowing international trade to account for 10 percent of the state’s total economy. Part of the reason that states such as […]

Governor Quinn Signs New Law Targeting Patent Trolls

Patent trolling is the process of sending misleading demand letters to a business and claiming that the business committed some act that violated the patent owned by another business or person. The letters typically demand that the business either cease the allegedly illegal patent violation or that the business pay royalty fees for continued use […]

Early Access to Federal Small Business Health Insurance Exchange

Since the rollout out of the Affordable Care Act (ACA), small business owners have been concerned about how the new law may increase their companies’ operating expenses and infringe on the ability to provide quality health insurance to employees. However, small business employers in Illinois may finally be able to take a sigh of relief. […]

Ban the Box and Pregnancy Protections: Employer Action Restrictions

The new Illinois law titled Job Opportunities for Qualified Applicants Act (Act), also known as the Ban the Box Initiative, is a new law that will allow job seekers with past criminal histories to apply for jobs without allowing their past to get in the way of finding gainful employment. The Act, which will take effect […]

Highly Litigious Climate Presents Challenges to Small Business Owners

A recent business climate report surveyed thousands of small business owners and asked them to apply a letter grade to the business regulations for operation in their state. Illinois was one of the six states that received a failing grade in the report. This report, along with others, has indicated that Illinois is at the […]

Microloans Present Viable Funding Options for Entrepreneurs

Microloans are small loans made to small business owners and entrepreneurs. The borrowers of microloans are typically those who lack the necessary credit history, steady employment, and collateral necessary to receive a loan from a traditional lending institution such as a bank. Microloans can be used as working capital. They can also be used in […]