@BizLawyers Twitter Feed

    follow me on Twitter

    Chicago Business bLAWg Headline Animator

    Friday, May 14, 2010

    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.
    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.

    Tuesday, May 11, 2010

    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!