Tag: small business
Does Your Business Require A Physical Address?
Posted on January 12, 2023
Our world is becoming increasingly digitalized, and the pandemic has only accelerated this trend. Businesses now have the opportunity to operate virtually, without the need for a physical address. Many entrepreneurs and business owners wonder whether a storefront is needed for a successful business. Can a business operate with a PO box or virtual address? Can a small business use a home address as a business address? Does lacking a physical address have any legal implications? These are important questions, and anyone interested in starting a business should take the […]
Prioritize your Business Goals for The New Year
Posted on January 5, 2023
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 […]
Is Your Business Prepared for the New Year?
Posted on December 15, 2022
For business owners and leaders, the new year represents an opportunity to evaluate successes and failures in the past year and make plans to improve operations in the coming months. Year-end business reviews help a company celebrate wins and reflect on losses. By analyzing current performance, business owners can determine areas of strength, as well as potential improvements that need to be made. It can also help when setting goals for growth and profitability in the new year. Having a clear plan for the upcoming year is important to ensure […]
Outsourced General Counsel for Small Business Owners
Posted on December 8, 2022
If you are a business owner or business leader, an investment worth making is a relationship with a skilled outsourced general counsel (OGC). Many businesses neglect this critical step and only contact a lawyer once they are already facing legal issues. Unfortunately, the damage to the company’s reputation and bottom line is often already done by the time a business contacts an attorney. Building a relationship with an OGC before a legal issue arises can help you prevent legal problems such as contract disputes, intellectual property infringement, and other costly […]
Why You Should Seek Legal Advice for Your Business
Posted on November 17, 2022
Small and mid-size businesses enjoy many advantages when compared to larger companies. Unfortunately, however, being a smaller company does not exempt the company from the same legal risks and challenges as your larger counterparts. In fact, in some ways, being a smaller company can actually put you at greater risk. Many well-meaning business owners assume that their business is too small to incur the normal turmoil of larger businesses. It is only when a legal issue does arise that they recognize the severity of the situation. As more regulatory and […]
Key Steps to Negotiate Successfully
Posted on November 10, 2022
Negotiations are a huge component of any small or medium-sized business. If you are a business owner or business leader, you probably negotiate the terms of business relationships, sales agreements, employee contracts, and other matters on a near-daily basis. Knowing how to negotiate effectively can help your business in many different ways. Negotiation Strategies for Small and Mid-Sized Businesses When it comes to business transactions, negotiations are often complex and multi-faceted. As a business leader, you need to be able to navigate these waters effectively in order to get the […]
Steps To Follow When Your Business is Dealing With Legal Issues
Posted on November 3, 2022
Ideally, legal issues would be prevented through measured, proactive action. However, even the most diligent business owners or leaders can find themselves facing a serious legal issue. Some of the most common legal issues involving small and medium-sized businesses include contract disputes, intellectual property issues, employment law compliance, and regulatory problems. If your business is involved in any type of legal issue, it is important to take quick and decisive action to protect your interests. The following are some key steps to follow. How to Handle Legal Problems in Your […]
How To Recession-Proof Your Business
Posted on October 13, 2022
Business owners have been faced with seemingly endless challenges in the past few years. Shipping delays, labor shortages, and supply chain issues have forced many business owners to get creative in order to keep their businesses afloat. Lingering economic problems caused by the coronavirus pandemic and other international issues have added yet another layer of complexity to the mix, and business owners are scrambling to adapt. Many are wondering how they can recession-proof their businesses and protect themselves from the economic downturn. There is no one-size-fits-all solution to recession-proofing your […]
How Your Business Can Avoid Lawsuits
Posted on October 6, 2022
No business owner wants to deal with the headache and expense of a lawsuit. But unfortunately, even the most well-meaning businesses can find themselves on the wrong side of the law. The good news is that you can take steps to help avoid legal problems before they occur. One of the best ways to protect your business from lawsuits is to be proactive about risk management. This means taking steps to identify and mitigate risks before they result in legal action. You might perform regular safety audits of your workplace, […]
Retirement Plans Are Becoming Mandatory. Does Your Business Have a Good One in Place?
Posted on September 27, 2022
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 […]
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