One of the first decisions you have to make when you start a business is what type of structure it’s going to use. For some small business owners, a sole proprietorship is sufficient. In other cases, a bit more protection is needed. Those business owners may opt to...
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Business Formation & Planning
Dissolution is necessary when a company closes its doors
An Illinois company could have a variety of reasons for shutting its doors. Even so, simply closing the doors is not enough to cease operations. Instead, a formal dissolution process must occur in order for the business to be considered legally closed. All the owners...
Avoid these small business formation mistakes
For entrepreneurs dipping their toes into one of Illinois's for-profit industries for the first time, there is a lot to learn. Making certain small business formation mistakes could quickly and easily derail their efforts. Taking the time to learn what not to do from...
A name could mean everything in business formation
Creating a new company here in Illinois or elsewhere requires numerous decisions. One of the most important is the name it will take. This aspect of business formation could prove to be one of the crucial steps leading to success. Making this choice requires answering...
The importance of business formation for real estate investors
Many Illinois entrepreneurs choose to invest in real estate. Perhaps they want to "flip" houses or invest in commercial real estate. In any case, it may be a good idea for them to consider the importance of business formation when it comes to owning real estate....
Another business formation task: Choosing the right retail space
When Illinois entrepreneurs decide to start a new retail venture, many of them will need a location from which to operate. Choosing a retail space is not as easy as finding an empty space in a strip mall, however. Numerous factors go into making the decision, which...
When business formation includes budgeting for retail space
Money is often an important part of the planning process for any Illinois entrepreneur. This often makes budgeting a crucial part of any business formation efforts. When a new venture includes finding a retail space, it may help to make sure that everything is...
Consider your insurance needs during business formation
You have a lot to do as you start your new company here in Illinois. What type of entity should you form? Where will you conduct your business? Will you need employees? Another question that you may want to ask yourself during the business formation process is what...
Business formation: Is a sole proprietorship your best choice?
Are you like many other Illinois entrepreneurs who do not like paperwork? If so, as you ponder all of the business formation decisions you must make, you may be considering doing business as a sole proprietorship. While this type of entity has its advantages, you may...
Business formation issues: Starting a corporation
With all of the entity choices that Illinois entrepreneurs can choose from, you may have settled on starting a corporation. This is just one of the decisions you make during business formation that helps to guide the course of your business. Now that you have made...