With the holidays behind us, it’s time to get back to business and, with the turning of the calendar, your policies and processes might need to be updated to match changes in the law. The Illinois legislature passed several laws last year, effective on January 1, which affect small businesses. Here are some of the most relevant changes: The [...]
It’s Christmas come early! Earlier this week, Mayor Lightfoot gave an early present to small business owners outside of the Loop. She released a plan to streamline small business licensing, which would open five regional centers to help with licensing issues. Currently, these matters can only be handled downtown at the Department of Business Affairs and Consumer Protection (BACP) [...]
Way back in 1893, the Chicago World’s Fair saw 27 million visitors pour into downtown. Skip forward a century to 1991 to witness the birth of Lollapalooza, a festival that now brings massive money to our Windy City. Cities have long used fairs and festivals as economic engines, driving growth and investment, but the practice is not limited to [...]
What is an annual meeting? Every year, corporations gather together all their shareholders to talk about the state of the company. This is an annual meeting. It’s also called the “general meeting” or the “shareholder’s meeting.” Are all businesses required to hold an annual meeting? It depends. LLCs only need to hold one if required in the company’s [...]
Happy New Year! With the changing of the calendar come changes in the legal code. As of January 1, 2019, more than 180 new laws became active in Illinois, many of which impact small business owners in some way or another. You can find the entire list of new laws here, but we’ve highlighted several that affect small business [...]
