Picking the right business partner for your next business venture can make or break your business. Before you decide to become business partners with someone it is important to carefully evaluate if you are a good fit to work with each other. You may want to consult an Illinois business attorney who can help you with a partnership agreement. …
Most small business owners will occasionally have to face the unpleasant task of firing an employee. Small businesses, in particular, rely heavily on each employee. An underperforming employee may not only lower the morale of other employees who have to pick up the slack, but may also jeopardize the success of the business. When an employee must be terminated, it …
Every business with at least one employee should have an employee handbook, sometimes also called an employee manual or code of conduct, setting out the company’s policies and rules and the laws applicable to the employment relationship. It establishes the expectations in the relationship and enables employers to deal with similar situations consistently. Typically, employers do not intend for the …
Immigration isn’t just a hot topic in the news—it has real impact on employers. All employers, including small businesses, are required to complete and retain a Form I-9 Employment Eligibility Verification for every person they hire to work inside the U.S. for pay or any other type of compensation. Failure to comply could result in severe penalties. What Is the …
If you’re thinking of starting a business (or already have a business in the works), make sure that the name you use is not already taken. Original names are essential for three reasons: marketing power, clarity, and trademark infringement avoidance. For example, if you’ve decided to open a coffee shop, it’s fairly easy to determine that the name “Starbucks” is …
Starting a new business can seem overwhelming – especially when you’re doing it alone. Creating a business plan will allow you to refine incomplete ideas, address areas you may have not yet considered, create a map so you know what to do next, and increase credibility for bank loans or investor funding. While you may think you’ve got your business …