Top 5 Business Tips for Developing an Employee Handbook

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips for Developing an Employee Handbook- check it out at: http://www.score.org/5_tips_leg_6.html.

We recommend you perform a year-end strategic business review (and update your planning).  For our strategic business planning checklist part 1 & part 2:

http://www.jdsupra.com/post/documentViewer.aspx?fid=55397007-ca6e-4941-a509-88db4be93030

http://www.jdsupra.com/post/documentViewer.aspx?fid=d6ecf8e0-b07c-4a66-9e2a-3db1f2236c55

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

____________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact). Or visit us at our website: http://www.gjlaw.com

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-End Business Check-up No. 18:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 18:

It is almost always less expensive & more effective to involve your business lawyer earlier than later!

Check for updates every week day through December 31st.

Happy New Year from Griffith & Jacobson, LLC!

Happy New Year!

A new year should bring new hope and new opportunities.  We hope the new year brings you much happiness, health and wealth!

Happy New Year!

From all of us at Griffith & Jacobson, LLC

Griffith & Jacobson, LLC - We know Chicago's Business.

Year-End Business Check-Up No. 17:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 17:

Monitor the financial health of vendors & customers on a regular basis. Identify & plan for potential bankruptcies.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Year-End Business Check-Up No. 16:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 16:

Perform aging reports on your Accounts Receivables (A/R) frequently & regularly. Identify, monitor, contact and resolve problems with slow payers!

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-End Business Check-Up No. 15:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 15:

Perform a cash flow analysis of your business on a frequent and routine basis.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-End Business Check-up No. 14:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 14:

Review your buy-sell and/or shareholder agreements. Re-examine the purchase mechanisms & valuation methods. Discuss these ownership and management matters before a triggering event happens.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Top 5 Business Tips for Employers to Implement

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips for  Employers to Implement- check it out at: http://www.score.org/5_tips_leg_2.html.

We recommend you perform a year-end strategic business review (and update your planning).  For our strategic business planning checklist part 1 & part 2:

http://www.jdsupra.com/post/documentViewer.aspx?fid=55397007-ca6e-4941-a509-88db4be93030

http://www.jdsupra.com/post/documentViewer.aspx?fid=d6ecf8e0-b07c-4a66-9e2a-3db1f2236c55

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

____________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact). Or visit us at our website: http://www.gjlaw.com

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Happy Holidays!

Wishing you and yours the very best!  We hope you get to enjoy the holidays with family and friends.

Happy Holidays,

from all of us at Griffith & Jacobson, LLC

Griffith & Jacobson, LLC - Chicago's Business Lawyers.

Year-end Business Check-up No. 13:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 13:

Develop & implement a disaster plan. Address the loss of a key supplier or customer, your data, inventory, equipment or even your workplace.

Too many businesses suddenly collapse because they have no plan in place to chaos that ensues after an unexpected disaster - whether it be a fire, loss of your computers, data, an equipment breakdown or even the sudden loss of a key supplier.

Every business should have a business disaster plan. Most people plan and hold drills for natural disasters (such as tornado or fire drills) and your physical safety is a priority. But is your business prepared to weather those same disasters? What will happen if your business has to move because of a fire or flooding?  What if your files/computer system and/or data were suddenly destroyed? Is your business ready for the financial strain and will your business be able to carry on if your business lost its key supplier?

Be sure to have emergency contingency plans to address key and strategic files/data, business assets and equipment. Do you have back-ups in place?  Once the physical danger has passed, do your employees know your plan to get your business back up and running as soon as possible?

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Year-end Business Check-up No. 12:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 12:

Assess your health/life/disability programs offered & determine if employee benefits and employer contributions are reasonable (and/or at least on par with the industry standards).

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-End Business Check-Up No. 11:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 11:

Complete or update your business succession plan and have an exit strategy. Too many businesses suddenly collapse because they have no plan in place to deal with a sudden loss of leadership and/or the financial strain of loosing an owner (or key employee). Will your business be able to carry on if you (or another key employee) suddenly were injured, incapacitated or died?

Every business should have a succession plan/exit strategy. Be sure to groom a successor - who knows how to run your business in your absence. Buy life insurance and/or key man insurance for yourself (as the business owner) and for all of your key employees. The money can help "rent" a director or "buy" management expertise while your successor tries to get your business back on track.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Year-End Business Check-Up No. 10:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 10:

Perform a thorough review of your business insurance. Ensure you have the right coverages & amounts for your risk. Many business owners are unaware of or neglect business continuation coverage - i.e., insurance to give you monies to rent a temporary place and/or buy supplies, replacement products, emergency phones,internet connections/servers, etc., in the event of an unexpected disaster - e.g., a fire, storm, flooding and even death of a key employee or owner.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Top 5 Business Tips for Teaching Employees to Own their Work

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips for Teaching Employees to Own Their Work - check it out at: http://www.score.org/5_tips_l_10.html.

We recommend you perform a year-end strategic business review (and update your planning).  For our strategic business planning checklist part 1 & part 2:

http://www.jdsupra.com/post/documentViewer.aspx?fid=55397007-ca6e-4941-a509-88db4be93030

http://www.jdsupra.com/post/documentViewer.aspx?fid=d6ecf8e0-b07c-4a66-9e2a-3db1f2236c55

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

____________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact). Or visit us at our website: http://www.gjlaw.com

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-End Business Check-Up No. 9:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 9:

Complete and update all of your confidentiality, nondisclosure or non-competition agreements for your employees, vendors and/or customers. Ensure your existing agreements are still enforceable: i.e., they are reasonable given the circumstances and their restrictions are narrowly tailored and fit the facts surrounding the situation.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-End Business Check-up No. 8:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 8:

Are you maximizing your intellectual property rights? Meet with your business lawyer to discuss ways you can you monetize your IP rights and secure potential new sources of income. Be sure to have measures in place to secure and protect your valuable intellectual property rights and trade secrets. Address any infringements and/or possible disputes over your IP rights, licensing and trade secrets.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-End Business Check-up No. 7:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 7:

Inventory & assess all liabilities. Be proactive! Meet with your business lawyer and discuss a strategy to address any disputes or issues and how to mitigate and/or head off potential liabilities or litigation. As the old adage says: an ounce of prevention is the best medicine.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-End Business Check-Up No. 6:

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 6:

Review your independent contractor relationships. The Internal Revenue Service and many States (i.e., their Department of Revenue and/or Department of Labor) are auditing business/corporate tax filings and reports concerning their use of independent contractors. In cases where the IRS and/or the State tax agents reclassify "independent contractors" as employees, the business is not only required to withhold/pay the required tax payments (i.e., FICA, FUTA, etc.), they are usually also assessed significant penalties for failing to file and pay the required employment taxes.  So review your situation with a business lawyer and avoid a potentially costly reclassification of your independent contractors!

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-End Business Check-Up Tip No. 5

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 5:

Review employee duties & lines of authority. Train employees on marketing & cross-selling your products and services.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-End Business Check-Up Tip No. 4

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 4:

Be sure your employee files are in compliance with state laws. Ensure your employee posters/notices are up to date.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Top 5 Business Tips- Exit Strategies

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on Exit Strategies - check it out at: http://www.score.org/5_tips_bp_7.html.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

____________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Year-End Business Check-Up Tip No. 3

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 3:

Review employment policies & procedures. Update them to cover mobile and social media usage & data protection.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-end Business Check-up Tip No. 2

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business Check-up No. 2:

Review contracts & forms. Address key provisions (i.e., dispute resolution, venue, warranties, liability limits).

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Year-End Business Check-Up Tip No.1

To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.

Business checkup no.1:

Assess corporate governance & comply w/ statutory & formality requirements or lose protection of limited liability.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

It's Time for a Year-End Business Check-up

Our Strategic Business Checkup & Strategic Year-end Planning series is back!

We recommend you perform a year-end strategic business review (and update your personal estate planning). To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year.

Check for updates every week day through December 31st.

Happy Holidays from Griffith & Jacobson, LLC!

______________________________________________________________

For more information about recommendations for a year-end business check-up and our strategic business planning checklist part 1 & part 2 - go to:

http://www.jdsupra.com/post/documentViewer.aspx?fid=55397007-ca6e-4941-a509-88db4be93030

http://www.jdsupra.com/post/documentViewer.aspx?fid=d6ecf8e0-b07c-4a66-9e2a-3db1f2236c55

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Top 5 Business Tips for Effective Business Planning

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips for Effective Business Planning - check it out at: http://www.score.org/5_tips_bp_1.html.

We recommend you perform a year-end strategic business review (and update your planning).  For our strategic business planning checklist part 1 & part 2:

http://www.jdsupra.com/post/documentViewer.aspx?fid=55397007-ca6e-4941-a509-88db4be93030

http://www.jdsupra.com/post/documentViewer.aspx?fid=d6ecf8e0-b07c-4a66-9e2a-3db1f2236c55

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

____________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact). Or visit us at our website: http://www.gjlaw.com

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Top 5 Business Tips for Establishing a Presence in Your Community

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips for Establishing a Presence in Your Community at: http://www.score.org/5_tips_m_pr_1.html.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

We also recommend you perform a year-end strategic business review (and update your personal estate planning).  For our strategic business planning checklist part 1 & part 2:

http://www.jdsupra.com/post/documentViewer.aspx?fid=55397007-ca6e-4941-a509-88db4be93030

http://www.jdsupra.com/post/documentViewer.aspx?fid=d6ecf8e0-b07c-4a66-9e2a-3db1f2236c55

____________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact). Or visit us at our website: http://www.gjlaw.com

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Have a great Thanksgiving!

We hope you enjoy the holiday and get stuffed!

Happy Thanksgiving,

from all of us at Griffith & Jacobson, LLC

Griffith & Jacobson, LLC - Chicago's Business Lawyers.

Top 5 Business Tips on Sprucing Up a Tired Image

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on Sprucing Up a Tired Image at: http://www.score.org/5_tips_m_pr_2.html.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

We also recommend you perform a year-end strategic business review (and update your personal estate planning).  For our strategic business planning checklist part 1 & part 2:

http://www.jdsupra.com/post/documentViewer.aspx?fid=55397007-ca6e-4941-a509-88db4be93030

http://www.jdsupra.com/post/documentViewer.aspx?fid=d6ecf8e0-b07c-4a66-9e2a-3db1f2236c55

____________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact). Or visit us at our website: http://www.gjlaw.com

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Top 5 Business Tips on Developing a Marketing Plan

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on Developing a Marketing Plan at: http://www.score.org/5_tips_m_pr_4.htmll.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

We also recommend you perform a year-end strategic business review (and update your personal estate planning).  For our strategic business planning checklist part 1 & part 2:

http://www.jdsupra.com/post/documentViewer.aspx?fid=55397007-ca6e-4941-a509-88db4be93030

http://www.jdsupra.com/post/documentViewer.aspx?fid=d6ecf8e0-b07c-4a66-9e2a-3db1f2236c55

____________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact). Or visit us at our website: http://www.gjlaw.com

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Top 5 Business Tips for Low-Cost Marketing

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips for Low-Cost Marketing at: http://www.score.org/5_tips_m_pr_9.html.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

We also recommend you perform a year-end strategic business review (and update your personal estate planning).  For our strategic business planning checklist part 1 & part 2:

http://www.jdsupra.com/post/documentViewer.aspx?fid=55397007-ca6e-4941-a509-88db4be93030

http://www.jdsupra.com/post/documentViewer.aspx?fid=d6ecf8e0-b07c-4a66-9e2a-3db1f2236c55

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

It is time for Strategic Business Planning for the New Year!

We recommend you perform a year-end strategic business review (and update your personal estate planning).  For our strategic business planning checklist part 1 & part 2:

http://www.jdsupra.com/post/documentViewer.aspx?fid=55397007-ca6e-4941-a509-88db4be93030

http://www.jdsupra.com/post/documentViewer.aspx?fid=d6ecf8e0-b07c-4a66-9e2a-3db1f2236c55

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

 

Happy Halloween from Griffith & Jacobson, LLC

May all your candy be sweet and your dreams be spooky!

Happy Halloween!

From the Chicago business law firm of Griffith & Jacobson!

Griffith & Jacobson, LLC - Chicago's Business Lawyers

Top 5 Business Tips on How to be Sure You Are Adequately Insured

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 tips on How to be Sure You Are Adequately Insured  - check it out at: http://www.score.org/5_tips_om_8.html.

We recommend involving your accountant and business lawyer in reviewing your business insurance needs to ensure you adequately address and cover your business risks.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact). Or visit us at our website: http://www.gjlaw.com

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

There is Still Time for Your Business to Take Advantage of the HIRE Act!

There is still time for your business to take advantage of the tax credits available for hiring unemployed workers.  The tax credits are available in 2010 as part of the Hiring Incentives to Restore Employment (HIRE) Act.

There are 2  tax benefits are now available to employers hiring workers who were previously unemployed or only working part-time:

1. Employers who hire unemployed workers this year (by 12/31/10) may qualify for a 6.2-percent payroll tax incentive. This hiring incentive effectively exempts the employers from their share of Social Security taxes on wages paid to the hired employees for 2010. Employers would still need to withhold the employee’s 6.2-percent share of Social Security taxes, as well as employer and employee’s shares of Medicare taxes and withholding for income taxes.


2. In addition, for each worker retained for at least a year, businesses can claim an extra general business tax credit, up to $1,000 per employee, when the company files its 2011 income tax returns.

See the following IRS article for more guidance: http://www.irs.gov/newsroom/article/0,,id=220326,00.html

IRS delays reporting requirements for Group Health Care Coverage for Businesses

Under the recently passed Affordable Care Act of 2010, businesses should have started reporting group health care coverage in 2011. The Act requires businesses to report the value of employer-sponsored health coverage, by indicating the cost of the health insurance coverage they provide employees on each employee's annual Form W-2.  However, IRS has decided to delay such reporting requirements.

The IRS determined that interim relief was needed to to provide employers the time they need to make changes to their payroll systems or procedures in preparation for compliance with this requirement. So, the IRS will defer the reporting requirement for 2011, making that reporting by employers optional in 2011. The interim relief from the IRS does not require companies to file the reports until 2012.

See IRS guidance: http://www.irs.gov/pub/irs-drop/n-2010-69.pdf http://www.irs.gov/newsroom/article/0,,id=220809,00.html

Is Your Business Eligible for the Small Business Health Care Tax Credit?

As part of the health care package recently passed by Congress, a credit is given to small businesses for certain payments of employee healthcare coverage for low to moderate income workers. This credit will help small businesses offer employer-sponsored health coverage by making the cost of covering their employees more affordable. In general, the credit is available to small employers that pay at least half the cost of single coverage for their employees. The credit can be applied to new health insurance coverage or it can help the small business owner maintain the coverage they already offer.

Here are the “Fast Facts” for the Health Care Tax Credit:

Credit Amount: Starting in 2010, the (small business) healthcare tax credit is worth up to 35% of your business' health care premium costs.

▸ The maximum rate (i.e., up to 35%) applies for 2011 through 2013 as well.

▸ On January 1, 2014, your credit increases to 50%.

Eligibility:

If you can answer yes to these 3 requirements, your business may be eligible to claim the small business health tax credit:

1.   Number of Employees: You are a “small business” for the purposes of this tax credit if your businesses has less than 25 full-time workers.

▸ There is a progressive reduction (or phase out) of the credit after 10  full-time employees.

2.  Wages: The average wage or salary paid to your employees is less than $50,000 per year.

▸ The credit phases out gradually for enterprises with average wages between $25,000 and $50,000.

▸ Even if you have employees who earn more than $50,000 per year, you may still qualify for the credit for those who fall below this cut-off.

3.  Coverage Payments: You pay at least 50% of the employee’s single coverage rate (i.e., coverage for the employee-only).

To determine if your business is eligible, use the IRS worksheet (“Three Simple Steps”): http://www.irs.gov/pub/irs-utl/3_simple_steps.pdf

Reporting: Businesses will use new Form 8941 to calculate and report the small business health care tax credit.

▸ A draft of the form is available (http://www.irs.gov/pub/irs-dft/f8941--dft.pdf)

▸ A final Form 8941 be available later this year.

For more information see the IRS website on this credit go to: http://www.irs.gov/newsroom/article/0,,id=223666,00.html

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The attorneys at the Chicago business law firm of Griffith & Jacobson, LLC can help your business with this tax credit.

For information on how our business lawyers can help you, contact Arieh M. Flemenbaum at 312-236-8110 or info@gjlaw.com .

Visit our website at http://www.gjlaw.com.

Griffith & Jacobson, LLC – Chicago’s Business Lawyers.

Top 5 Business Tips to Avert Disaster- Have a Disaster Plan for Your Business!

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips to Avert Disaster  - check it out at: http://www.score.org/5_Tips_Avert_Disaster.html.

We recommend all businesses should have a disaster/emergency plan to avoid having a disaster cripple your business.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Top 5 Business Tips on Technology Planning

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on Technology Planning - check it out at:  http://www.score.org/5_tips_bp_9.html.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact). Or visit us at our website: http://www.gjlaw.com

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Top 5 Business Tip to Secure Your Laptop

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips  to Secure Your Laptop  - check it out at: http://www.score.org/hp_5_tips_secure_laptop.html .

This is a great start to what your business should be doing to protect your trade secrets and securing your date and information.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Top 5 Business Tips – How to Protect Yourself from Employee Lawsuits

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on How to Protect Yourself from Employee Lawsuits - check it out at:  http://www.score.org/5_tips_leg_7.html.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Top 5 Business Tips – Developing an Employee Handbook

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on Developing an Employee Handbook - check it out at: http://www.score.org/5_tips_leg_6.html.

I stress the second step - after you have outlined your employee handbook and/or policies, consult your business lawyer and have them review it to ensure that you do not modify the "at-will" nature of your employment (in Illinois).

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Top 5 Business Tips for Employers to Implement

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips for Employers to Implement- check it out at: http://www.score.org/5_tips_leg_2.html.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

____________________________________________________________

For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Chicagoland Economic Development Programs

For a thorough and well-organized directory of resources for businesses seeking information on grants and economic development loans, grants and programs run by Illinois and local government entities, go to: http://www.ecodevdirectory.com/illinois.htm

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

To 5 Business Tips to Creatively Search for Funding

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips to Creatively Search for Funding  - check it out at: http://www.score.org/5_tips_fc_9.html.

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Legal Guides & Answers to Business Issues

Chicago Business bLAWg contributor and attorney with the law firm of Griffith & Jacobson, LLC, Arieh M. Flemenbaum, has several legal guides and has answered several questions from business owners on http://www.avvo.com/attorneys/60603-il-arieh-flemenbaum-1102412.html:

Arieh's legal Guides on Avvo.com:
Read my legal guides at Avvo.com/

Arieh M. Flemenbaum has also answered many questions and issues posed by business owners.  Below is a link to the questions and Arieh's answers:

Get my answers to legal questions at Avvo.com

Arieh Mordechai Flemenbaum

View lawyer's profile

Top 5 Business Tips - Approaching Your Bank

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on Finance & Capital: Approaching your Bank - check it out at: http://www.score.org/5_tips_fc_2.html

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Top 5 Business Tips - Building Customer Relationships

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, freeresources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on Building Customer Relationships- check it out at: http://www.score.org/5_tips_s_cs_3.html

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/CM/Custom/Contact.asp).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

Top 5 Business Tips - Building Your Referral Business

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on building your referral business - check it out at: http://www.score.org/5_tips_referral_business.html

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/CM/Custom/Contact.asp).

Griffith & Jacobson, LLC - We know business - Chicago's Business Lawyers.

Illinois passes Tax Credits to Boost Tech Investment

The Illinois General Assembly has passed a bill that should increase investment in emerging technologies and bring jobs to  Illinois. The bill sets aside $10 million in tax credits to assist Illinois-based investors in startup companies that commercialize new technologies. A tax credit against state taxes can be provided to investors funding Illinois-based technology firms. The tax credit is capped at 25 percent.

In our post on 5/11/10 we supported the revival of Senate Bill 1522 (go to: Bring Jobs to Illinois – Revive the Emerging Technology Bill). A pared-down version of  SB1522  was resurrected and incorporated into the bill that was approved last week. The angel tax credit now awaits Governor Quinn's signature. The Governor is expected to sign the bill into law, which should occur by this November. Assuming the bill becomes law, the credits could be effective starting next year.

Small, innovative tech-related companies are central to global competitiveness and job creation.  Illinois has been a major hub for tech-related companies, as evidenced last month by the tremendous turnout at the 2010 BIO International Convention (considered the global event for biotechnology) hosted in Chicago. The event closed with a record number of attendees (15,322 industry leaders from 49 states and 65 countries) - to read more on the 2010 BIO International Convention go to: http://convention.bio.org/content.aspx?id=3012.

The bill's passage will enhance Illinois' ability to attract more companies by positioning Illinois as "friendly" to tech-related companies. However, to remain competitive and attract more tech-related companies to Illinois, more has to be done.  Illinois has lagged behind several other Midwestern states in providing tax incentives and grant programs for technology startups. Several neighboring states already offer similar tax credits to investors in tech-related startups, and two such states (Wisconsin and Minnesota) are poised to enhance their tax credit programs.  So, we must continue to pressure the legislature to enhance the tax credit program and add additional incentives and supportive programs.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/CM/Custom/Contact.asp).

Griffith & Jacobson, LLC –  Chicago’s Business Lawyers.

Participate in Crain's survey of Illinois technology businesses

If your business is an Illinois based technology or  internet related business, you should participate in Crain's Chicago Business survey: http://www.surveymonkey.com/s/K5NRPDT

The brief, 10 question survey is being used by Crain's to "identify and quantify the Illinois technology business community, get a sense of its impact on the state's economy and understand the mechanisms in place to support this important sector."

Responses are requested by June 4th, and responses will be kept confidential. The survey's (aggregate) results will be published in Crain's July 5th issue.

The survey can be found at: http://www.surveymonkey.com/s/K5NRPDT

Top 5 Tips on Conserving Capital

With the economy continuing to sputter, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, freeresources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on Conserving Capital- check it out at: http://www.score.org/5_tips_fc_3.html

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.

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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/CM/Custom/Contact.asp).

Griffith & Jacobson, LLC – We know business – Chicago’s Business Lawyers.

SCORE's Top 5 Business Tips - Effective Business Planning

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on Effective Business Planning- check it out at: http://www.score.org/5_tips_bp_1.html

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.
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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/CM/Custom/Contact.asp).

Griffith & Jacobson, LLC - We know business - Chicago's Business Lawyers.

SCORE's Top 5 Business Tips - Business Exit Strategies

With the economy still sputtering, your business needs to take advantage of the resources available to them. SCORE (http://www.score.org) offers useful, free resources, business counseling and business tools to small businesses.

One of SCORE’s great resources is its lists of “Top 5 Business Tips.” My pick for this week is SCORE’s 5 Tips on Exit Strategies- check it out at: http://www.score.org/5_tips_bp_7.html

SCORE is a partner with the Small Business Administration (SBA) and is a national association dedicated to helping small business owners form and grow their businesses. SCORE offers terrific free resources, business counseling and business tools for small businesses.
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For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/CM/Custom/Contact.asp).

Griffith & Jacobson, LLC - We know business - Chicago's Business Lawyers.

Gjlaw.com - - Chicago business lawyers and estate planning attorneys

Gjlaw.com - - Chicago business lawyers and estate planning attorneys

Bring Jobs to Illinois - Revive the Emerging Technology Bill

Spur your congressman to take action on legislation that will help bring jobs to and keep technology investments in Illinois.

Your Illinois congressmen have let Senate bill (SB1522) wither. The bill, if passed will pump up to $15,000,000 (per year) into emerging technology companies in Illinois and provide up to a 25% tax credit for Illinois tech company investors under the Illinois "Emerging Technology Industries Act".

The grant program will be run by the Department of Commerce and Economic Opportunity (the DCEO). The DCEO will award grants to emerging-technology enterprises in Illinois based on certain  requirements set by the Act and its regulations.

Provisions of the bill also amend the Illinois Income Tax Act to create  an income tax credit for qualified investors who make an investment in an emerging technology enterprise in Illinois. The DCEO will certify the amount of the credit and enforce the provisions for the revocation and recapture of the tax credit if the credit's requirements are not met.

The Act will bring quality, tech-related jobs to  and spur investment in the emerging tech businesses in Chicago and throughout Illinois. Various groups and organizations involved in the tech industry such as the Illinois Technology Association support the bill- see http://www.illinoistech.org/associationnews.aspx/497.

Crain's Chicago Business recently ran an article (Bill would boost Illinois' biotech startups) discussing the competitive disadvantage hampering efforts to attracting biotech (and other emerging tech) companies to Illinois:

“Illinois’ programs and support of entrepreneurs don’t even approach what other states are doing from a competitive point of view,” said David Miller, executive director of the Illinois Biotechnology Industry Organization, or iBio."

For the full article go to: http://www.chicagobusiness.com/cgi-bin/news.pl?id=38095

Show your support for the bill and demand that your Congressman revive the bill and bring quality jobs to Illinois.  To find out who is your Congressman go to: http://www.govtrack.us/congress/findyourreps.xpd?state=IL

Support the Illinois Emerging Technology Legislation!