Tag: Naperville business lawyers

Whether your business is brand new or you are celebrating a milestone anniversary – every business owner should have an exit strategy. Succession planning is crucial for businesses of every size. However, this is a task that many people put on the back burner. Working on an exit strategy well in advance of a planned exit is one of the best ways to reduce disruptions to your business when you or other key players do leave the company. It can also help ensure that the business is best prepared to […]

When planning for the New Year, small and mid-sized businesses should carefully consider their strategies for 2023 in order to ensure they are prioritizing their goals effectively. It is important to keep an eye on trends that may affect the industry, including advances in technology, shifts in customer preferences and demands, and changes to regulations or policies. Businesses should also take into account their current resources and budget, as well as any changes in the market that may impact their operations. Additionally, it is important to assess the business’s performance […]

Illinois now requires employers with at least five employees to offer a retirement program of some kind. For businesses with 16 to 24 employees, the deadline for establishing a retirement plan is November 1, 2022. For businesses with 5 to 15 employees, the deadline is November 1, 2023. Regardless of your business’s size, retirement benefits are crucial. Individuals of all ages are increasingly concerned about retirement and many fear the end of social security. Workers want competitive retirement plans with a high match rate. If you want your company to […]

Would you like to get top dollar for your business when you eventually sell it? If so, you will need to start preparing now. It usually takes about five years to get a business ready for sale, so the sooner you start, the better. Many business owners fail to think about how to increase the business’s value before putting it on the market. This mistake can cost you dearly. Whether you plan to sell soon or you are simply readying your business for a possible sale in the future, it […]

The cost of a college education has skyrocketed in the last few decades. About half of all college students graduate with debt, and the average amount owed is just under $30,000. Many employers recognize the massive financial burden their employees with student loans are currently facing. Simultaneously, employers across the country are struggling to attract and keep high-quality workers. In response to these concerns, more and more employers are offering various types of student loan relief to employees. The CARES Act has paved the way for employers to offer student […]