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 [...]
Doing business in any city is often a backwards and bureaucratic imbroglio, and Chicago is no exception. But the gales of change are blowing in the Big Windy! Entrepreneurs in Chicago will soon have a new, first-of-its-kind resource to sell their retail and food products to the public. Beginning on Monday, December 3, 2018, small business owners will be [...]
#ChiSmallBiz Most businesses in Chicago require a license from the city in order to operate, and the fees associated with this process can be expensive. In an attempt to alleviate this financial burden on entrepreneurs the Small Business Center of Chicago is offering a 2 year Business License for $125 (regularly the price for a 1 year license). [...]
Yesterday, Bruce Rauner signed a law reducing the filing fees for most Illinois Limited Liability Company paperwork. Illinois Secretary of State Jesse White announced that the law would go into effect immediately, stating “This is a business-friendly law that significantly reduces the cost of forming and maintaining a Limited Liability Company in Illinois”. (Read the full announcement here). This [...]
