Information and Assistance for Small Business Owners
From time to time we receive information from various government agencies or non-profit groups that might be of use to Small Business Owners.
They will be posted here and updated periodically.
Please scroll down to see all the articles.
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From the IRS
IRS Offers Information, Support and Services for Small Businesses
Do you own or operate a small business? Or do you plan to start a business someday soon? If you answered yes to either question, the IRS has online information, support and services that may be helpful to you.
Small Business Week Webinars. During National Small Business Week 2013, the IRS is hosting two free, live small business webinars. Go online to learn about the many tax benefits available to businesses. You will also learn how to avoid common mistakes made by small businesses. IRS staff will answer questions during each webinar.
Attend the free live webinars on June 18 and June 20 at 2 p.m. (ET).
Register for the events at IRS Webinars for Small Businesses.
Although tax professionals will not get continuing education credits, they will receive lots of useful information.
If you’re unable to attend the live events, you can view the archived versions on the IRS Video Portal. They’ll be available about three weeks after the broadcasts.
From the BACP
Goldman Sachs' 10,000 Small Businesses Program
Goldman Sachs and the City Colleges of Chicago are again offering 10,000 Small Businesses, a program designed to give local small business owners the resources to grow. Participants in the program gain practical business knowledge and skills that can be put to work immediately. Applications for the next group will be accepted through Monday, July 1st. An informational webinar will be offered on June 12th from 1:00 pm to 2:00 pm. To register please visit www.ccc.edu/smallbiz. For additional information please call 312-553-5855 or e-mail 10ksb@ccc.edu.
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From the BACP
Reminder for Dog-Friendly Establishments
The summer months are a great time to venture out with man's best friend. Between walks in the park, dogs-owners tend to find themselves hungry and looking for a meal. While some establishments offer dog-friendly atmospheres, those businesses should be aware of the rules surrounding having such a policy.
A dog-friendly area is a dining area of a retail food establishment that that is located outside, accessible from the street and includes all sides of any gate, fence or other border demarking the dog-friendly area. While these businesses are no longer required to pay for a separate license to allow dogs, they are required to have signage posted marking the area as a dog- friendly one.
To see the requirements for the sign you can review 4-8-031(e) of the Municipal Code of Chicago.
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From the SBA
Give Your Small Business a Spring Clean – 8 Tips That May Inspire You
Did you give your business a spring clean this year? Are you looking for new ways to boost sales, build your brand or get your business plan back on track? Check out some of these great suggestions from one of SBA’s web chats on keeping your business ideas fresh.
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From the SBA
7 Inspiring Home-Business Ideas for Stay-at-Home Moms (or Dads)
Are you a stay-at-home mom (or dad)? Hoping to kick start an entrepreneurial dream? Starting a home-based business is a great way to do this. In fact, 52 percent of U.S. companies operate as home businesses. Here are some business ideas and considerations for stay-at-home moms.
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From the SBA
7 Ways to Protect Your Small Business from Fraud and Cybercrime
How secure are your small business assets from fraud, identity theft and cybercrime? According to the Association of Certified Fraud Examiners, companies with fewer than 100 employees lose approximately $155,000 as a result of fraud each year. Don’t be a victim, these tips can help.
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From the BACP
10,000 Small Businesses Initiative Accepting Applications
Excellent opportunity for small businesses looking to learn and grow
Goldman Sachs 10,000 Small Businesses Initiative provides access to business education, financial capital and support services for local small business owners to create jobs and economic opportunities. The Initiative is currently taking applications for the September program with a deadline to apply of July 1, 2013.
The program is available to small business owners who have been in business for at least two years, have at least four employees and have revenues between $150,000 and $4 million per year. Individuals accepted into the program will receive education in human resources, accounting, marketing and negotiation, as well as have opportunities for personal advising sessions, expert clinics and accounting workshops.
10,000 Small Businesses is also hosting an informational webinar on May 29 and June 12 from 1 to 2 p.m. that requires individuals to register. Additionally, an information and application assistance session will be held at Harold Washington College, Room 1147, on May 15 and June 5 from 9:30 a.m. to 10:30 p.m., for individuals interested in the program. Also, a panel with alumni of the Initiative will be available at Harold Washington College in Room 102 on June 18 at 6 p.m.
To attend a session, please email 10ksb@ccc.edu or call 312-553-5855.
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From the SBA
Cybersecurity for Your Small Business
Is cybersecurity part of your small business Internet plan? Whether you're thinking of adopting cloud computing or just using email and maintaining a website, cybersecurity is an essential consideration. Check out the FCC website devoted to cybersecurity for small businesses, including top 10 tips to keep your business safe.
Read more
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From the SBA
How to Break Through 5 Common Barriers to Small Business Growth
Trying to grow your business, but thwarted at every turn by problems within your own organization or by external factors such as broken supply chains? These strategies can help you break through some of the common barriers to growth that many small businesses experience.
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From the SBA
5 Tips for Successfully Navigating the SBA Loan Application Process
In the market for a business loan? Heard about SBA loans, but not really sure how they work or how to go about applying for one? Get the answers to common questions that small business owners have about SBA loan programs and the loan application process.
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From the SBA
Dispelling Myths About the Affordable Care Act
As a business owner, it can be difficult to understand how the Affordable Care Act can affect your business. So to help clarify the myths versus facts, we’re launching a new blog series called “Myth vs. Fact: The Affordable Care Act and Small Business."
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From the SBA
7 Ways to Increase Foot Traffic to Your Small Business
Looking to get more foot traffic to your small business? Wondering how you can attract customers to your brick and mortar location? From hosting workshops to using location-based services, consider these seven tried and tested steps.
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From the SBA
Business Loans – What Lenders Look for and Tips for Winning Them Over
Securing small business financing can be challenging. Whether you are just starting out or looking to grow, banks and lending institutions can be rigorous in their lending review practices. Here's some insight about what are lenders looking for in a potential loan applicant.
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From the SBA
3 Things Small Businesses Should Know About the Affordable Care Act
Health Care
Are you wondering how the health care reform law (the Affordable Care Act) will impact your business? We’re launching a new series to explain the basics of the law, what you need to do to comply, and how your business can benefit from new incentives. To get started, we are highlighting three big things every small business owner should know about the Affordable Care Act.
Visit SBA.gov/HealthCare
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From the SBA
How to Use Free Sources of Market Data for Business Planning
The federal government offers many tools to help small business owners understand their markets, but where do you go to find that data, and how do you use it once you’ve got your hands on it? Here are some tips for finding data you need and translating it into information you can use.
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From the SBA
Start Your Business Plan with Our Step-by-Step Tool
Having a business plan is a must for small business owners, but finding the time to put pen to paper often means putting it on hold. But when you find the time, what's next? What format should it take? What numbers should you pull together? Our new online tool can help.
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From the SBA
Are Your Employees Working Overtime During the Holidays? Understand Overtime Wage Law
The holidays tend to complicate payrolls, with employees looking to earn extra cash and owners needing extended coverage for extended hours. But not all employers must pay overtime and not all employees are eligible. Confused? These answers can help guide you through the season.
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From the SBA
6 Business Tax Credits and Deductions to Take Advantage of Before New Year’s Day
The end of the year is fast approaching, but there’s still time to take advantage of a variety of business tax credits and deductions – some of which are new for 2012. Here are just a few to consider, plus some best practices for maximizing your claims.
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From the SBA
94 of Your Small Business Tax Questions Answered
Did you miss our tax tips web chat with the American Institute of CPAs? You can still learn a few end of the year takeaways by reading the questions and answers.
Read more
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From the IRS
2013 standard mileage rates up 1 cent per mile
Beginning Jan. 1, 2013, the standard mileage rates will be:
* 56.5 cents per mile for business miles
* 24 cents per mile for medical or moving purposes
* 14 cents per mile driven in service of charitable organizations
IR-2012-95 will be available on IRS.gov www.irs.gov.uac/latest-news soon.
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From the SBA
How to Use Social Media to Do a Better Job of Customer Service
Recent reports show that by 2014, businesses that refuse to communicate with customers by social media will face the same level of wrath as those that ignore today's basic demand that they respond to emails and phone calls. Here's how to use social media not just as a marketing tool, but as a systematic part of your customer service model.
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From the SBA
It’s National Cyber Security Awareness Month - Tips for Safeguarding Your Business
Small businesses are becoming a larger target for criminals seeking to access sensitive data because attackers are well aware that small businesses have limited resources or personnel dedicated to information system security. Learn more about a free cyber security planner for small business from the FCC and other critical tips to keep your business safe.
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From the SBA
Top 10 Questions About Business Incorporation Answered
Thinking of incorporating your business? Have questions about which business entity is right for you – limited liability company (LLC), S Corporation, partnership, or sole proprietor? Maybe you’re moving out of state and aren’t sure what happens to your business entity? For answers to these and other important facts about business incorporation, check out these 10 frequently asked questions.
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From the SBA
8 Ways to Strengthen Your Email Marketing Offers and Calls to Action
Are you worried you’re not getting tangible results from your email campaigns? Wish your emails stood out more in a crowded inbox? Email marketing is a core asset in any lead generation activity or campaign, even a good old email newsletter usually has one or more calls to action. But if you’re finding that your click-through rates are falling short, what can you do? Here are eight tips to help you get strengthen your emails and get your customer to act.
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From the SBA
Are You Facing A Business Plan Event?
Do you need to develop a business plan to submit to potential investors or a loan officer? Expert Tim Berry shares some helpful tips about preparing for these specific 'events' in addition to the benefits of having a business plan for general business management purposes.
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From the SBA
New SizeUp Tool Delivers Free Customized Business Analysis to Small Businesses
In today's challenging economic environment, help for small businesses is more critical than ever before. A key foundation of success in business is to leverage data analysis to discover insights and make smarter decisions. That's why SBA has made available SizeUp, an online small business support service that delivers customized business analysis.
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From the SBA
Is your Business Idea Patentable? A Guide to What Entrepreneurs Can Patent
Have a great idea for a business? Wondering if you can patent it before someone else comes up with something similar? Here’s what you need to know about patent protection and other intellectual property issues.
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From the SBA
Tips for Finding and Securing the Right Loan
Are you thinking of applying for an SBA-backed loan to start or expand your small business? Many signs suggest that lending markets are showing renewed vigor. Use SBA's search tool and check out these tips to help guide you through the process.
Read more
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From the SBA
10 Steps For Every Entrepreneur
Starting a business? Confused about the planning, legal and regulatory steps you should follow? These 10 steps can help you plan, prepare, and manage your business – while taking care of the startup legalities.
Read more
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From the SBA
Are Online Payment Services a Good Fit for Your Small Business?
Credit cards are a common online payment option for small businesses, but what about other online payment services? These tools make it easier than ever for anyone to buy and sell goods online and via mobile devices, but they have their pros and cons. Here’s what you need to know.
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From the SBA
How to Make a Social Media Plan for Your Business
Online buzz about social media for business owners seems to be moving from “Should I?” to “How do I?” Business planning expert Tim Berry shares his social media plan for small business success with insight about strategy, tactics and metrics.
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From the SBA
Eligible for Government Financing? Use SBA's Search Tool
Looking to grow your business? Not sure you’ll qualify for a traditional business bank loan? SBA's program of government-backed (or guaranteed) loans make it possible for many small businesses to get the financing they need to grow their business without using working capital.
Read more
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From the SBA
If you own a small business--or are thinking of starting a small business--get the training you need to help your business succeed.
The U.S. Small Business Administration offers FREE online courses to help you start a business, manage a business, finance a business, work with the government as a contractor, and more.
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From the SBA
When and How to Register Your Business as a “Small Business”
Do you own a small business but wonder if you actually need to certify your business as small? If you want to take advantage of business opportunities by selling to the government, the answer is 'yes.' Here's what you need to know about certifying your small business to qualify to compete for the nearly $100 billion worth of goods and services that the government buys from small businesses each year.
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From the SBA
Starting a Freelance Business – Legal, Tax and Contractual Paperwork
If you are new to freelancing or thinking of becoming a freelancer, you will likely have questions about legal and regulatory paperwork. Here’s a breakdown of key legal processes, plus important “business-ready” documentation you’ll need when dealing with new clients.
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From the IRS
IRS.gov tax centers make it easy to find information for specific industries and professions.
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From the BACP
CHICAGO'S RESTAURANT START-UP PROGRAM
This new program will make it easier for small business owners to start and operate restaurants in Chicago and it continues to deliver on the promise of making Chicago a partner to small business. The program includes several elements that will be helpful to new restaurant owners:
These elements will help restaurants open their doors quicker and start making money faster. For further information, visit www.cityofchicago.org/restaurant or call 312-74-GOBIZ.
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From the BACP
HOMEMADE GOODS NOW AVAILABLE AT LOCAL FARMERS MARKETS
This year, the Cottage Food Operation law (P.A.097-0393) law went into effect, allowing certain foods made in home kitchens to be sold at farmers' markets throughout the State and in Chicago. This new law promotes and supports the agriculture and cottage food industries. Now products that can be made in a home kitchen and sold at a farmers' market include certain fruit butters, jams, jellies, baked goods and dried foods. To sell these items at a farmers markets in Chicago you must first register with the Chicago Department of Public Health. Click here for more information.
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From the SBA
Online Guides to Help Small Business Comply with Laws and Regulations
From starting and growing a business to managing operations day-to-day, one thing is certain in business – dealing with laws and regulations. Here are some helpful tools and resources to help business owners find answers.
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From the SBA
3 Principles That Turn Planning Into Management
Have you lost sight of the importance of a business plan and the role it plays in the life of your business? Business planning expert Tim Berry shares reminders about three basic principles of a business plan.
Read more
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How to Market Your Business at Summer Events, Fairs and Festivals
Summer’s here and for most communities, that also means it's the season of outdoor fairs, festivals and other events. For a small business, community events like these can be a great opportunity to market your products and services. Here are some steps to get you started.
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From the SBA
Tips for Finding and Securing the Right Loan
If you are looking for capital to finance your start up or business growth, many signs suggest that lending markets are showing renewed vigor. Here are some tips to help you understand what SBA loans are available, where to get them, and how to prepare a successful loan application.
Read more
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From the SBA
Using Green Marketing Effectively in Your Business
Does your small business sell a “green” product or service—one that benefits (or at least doesn’t hurt) the environment? Before you launch a green marketing campaign, here are some key things you need to know to avoid major missteps that could bring your business down.
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From the SBA
10 Steps Every Entrepreneur Needs to Know to Start a Business
Starting a business? Confused about the planning, legal and regulatory steps you should follow? SBA has compiled 10 steps that can help you plan, prepare, and manage your business – while taking care of the startup legalities.
Read more
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From the City of Chicago
Ordinance to Simplify and Streamline Business Licensing
This effort will reduce the number of business licenses by 60% and will lower licensing fees for over 10,000 businesses in Chicago. The effort will also cut red tape, improve transparency, and offer consolidated licenses for commonly paired activities. It will make it easier to start and grow a business in Chicago.
Further details will be forthcoming in the Fall.
Click Here to see highlights of the benefits of this effort.
Click Here for the Business License Reform: 2013 License List.
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From the SBA
Starting A Business in a High Growth Industry? Need A Mentor? SBA Can Help
This week, SBA launched the Startup America Regional Accelerators and University Initiative. It will focus on the development and support of accelerators and other mentoring services for startups, bringing together university and community partners for the benefit of high growth startups.
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From the SBA
Mobile Food Concession Businesses: Rules of the Road
Want to take your restaurant on the road? Interested in starting a food-service business that affords lower overhead costs than a bricks and mortar restaurant? A mobile food concession business has advantages and challenges. Here's what you need to know.
read more
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From the SBA
3 Tips for Growing Your Business During Tough Times
The idea of starting a business during a recession or growing a business during tough times may sound like the ultimate challenge, but small businesses prove that tough times aren’t just survivable – they can spur growth. Here are a few tactics to consider for success.
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From the SBA
The Early Years of Entrepreneurship: A Step-by-Step Approach to Surviving and Thriving
The first few years of small business ownership are undoubtedly the toughest and a huge test of entrepreneurial character. What strategies and tactics can you employ as you venture through the early years of business ownership? Here are some year-by-year approaches to keep in mind.
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From the City of Chicago
Follow City Business Updates on Social Media
The Department of Housing and Economic Development (HED) is joining the City's Department of Business Affairs and Consumer Protection (BACP) to launch Twitter and Facebook accounts that share information about the departments' small business programs and services. The Twitter account can be found at twitter.com/chismallbiz and the Facebook account can be found at facebook.com/chismallbiz.
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From the SBA
What Your Small Business Needs to Know About Facebook's Timeline
You may have noticed a recent change to your business' Facebook page to what is called the Facebook Timeline. Here are 7 things you need to know about the new format of Facebook pages.
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From the SBA
Businesses need to know data to help empower them to make better decisions, create new services, and reach new customers. Data.gov recently launched a new site to collect all of the business-related data, apps, and tools the government has to offer for interested small business owners and app developers. Click here for more information.
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From the SBA
SEXUAL HARASSMENT-KNOW YOUR RESPONSIBILITIES
Business operators can be held responsible for sexual harassment in the workplace. Sexual harassment means any unwanted sexual advances or requests for sexual favors. It may also include explicit e-mails, magazines, or photos displayed in the workplace. For more information from the Chicago Commission on Human Relations, click here
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From the SBA
Conducting Market Research? 5 Official Sources of Free Data
Are you writing a business plan or planning to expand into new markets? Then it’s worth knowing that Uncle Sam offers access to free data that can help you understand your market and analyze consumer trends and demographics. Check out these government sources of market data and statistics that may boost your research efforts.
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From the City of Chicago
Chicago Sustainable Backyards Program
Chicago’s Sustainable Backyards Program is an educational and incentive program that highlights the many ways Chicago residents can create more environmentally-friendly landscapes in their yards. Together, as more and more residents install a rain barrel or plant a tree, we will make a positive impact on our quality of life in Chicago!
For more information Click Here
To receive periodic updates about the program including new incentives and workshop dates, send us an email at rainbarrel@cityofchicago.org or call us at 312-743-9283. We will automatically add you to our contact list.
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From the SBA
SBA provides resources to help women business owners to succeed. From registering your business, to hiring your first employee, we’re here to help you start and grow your small business.
Did you know that more than 7.8 million women run their own small businesses in the U.S. - generating more than $1.2 trillion each year?
If you are a female entrepreneur, or are a woman looking to join this rising force, SBA is here to help.
Read More
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From the BACP
IDENTITY THEFT A GROWING CONCERN FOR BUSINESS
According to a story posted by NPR, "Identity Theft is a Growing Concern for Businesses." When people hear of identity theft they usually think of stolen social security numbers of a person not a business. However, there is a growing trend of business identity theft which involves posing as a legitimate business in order to get access to credit lines or steal customers. Experts believe that the practice has become more prevalent in the past two years. Click here for more information.
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From the BACP
UPDATED PUBLIC NUISANCE ORDINANCE TAKES EFFECT
The amended Public Nuisance Ordinance takes effect on March 14th. A public nuisance case can be brought against any business licensed in Chicago. Two scenarios can warrant a public nuisance case: illegal acts and objectionable conditions. Click here to see the new fact sheet.
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From the SBA
How to Legally Handle HR Issues
Several blog posts offer advice on how to hire, mentor, and motivate employees. But what happens when you find yourself at the end of the road with no choice but to terminate an employee? This blog post explains six essential things you need to know about firing employees within the law.
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From the SBA
How to Build Exposure for Your Small Business with Social Coupons
Social coupon sites have been around for a few years now, and they still continue to attract and perplex small business owners. If you’re exploring the use of social coupons, here are some tips for assessing whether they will work for your business and how to plan a successful campaign.
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More Helpful Information From The Police Department
Prevent Air Conditioning Thefts
Click Here
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14th District Commander Flores: "Attention to Incidents is Up, But District Crime Rate is Down"
Click here to Read the letter
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From the Chicago Police Department
Business Robbery Prevention Tips
Click here
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From the SBA New Business Data Website
Your small business needs to be equipped with the best tools and information available to innovate and grow. Data.gov recently launched a new site to collect all of the business-related data, apps, and tools the government has to offer for interested small business owners and app developers.
Learn more
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From the SBA How to Find the Right License and Permit for Your New Business
Starting a business? Confused about whether you need a business license or permit? Check out our overview of the process of obtaining a license or permit for your new business.
Read more
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From the SBA When to Hire a Lawyer for Business Matters
Ever wonder if you need to get a lawyer involved in a business matter? See these guidelines to help you know which legal business issues you can probably handle independently and when it’s really time to retain a lawyer.
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From the SBA How to Start a Successful E-Commerce Business – 6 Tips from Seasoned Pros
According to U.S. Census data [pdf], e-commerce sales are increasing at a rate faster than traditional offline retail sales, so it’s no surprise that people are turning to e-commerce as a business opportunity. If you’ve got questions about starting an e-commerce business, consider these tips and recommendations.
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From SBA-How to Choose, Claim, and Protect Your Business Name – Online and Offline
Choosing a business name is an important step in the business planning process. But where do you start? Here are some tips to help you pick, register, and protect your business name – online and offline.
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From SBA-Get Start-up Advice With These 6 Free Online & In-Person Resources
Looking to start a business? Here’s an overview of online and face-to-face resources that provide free or low-cost counseling and training to new and aspiring business owners.
Read more
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From SBA-Opening and Running a Restaurant – A Legal and Regulatory Checklist
Opening a restaurant or food service business requires research, planning, capital (not always as much as you think), business acumen, and perseverance. It also requires a number of legal and regulatory considerations, during both the startup phase and the lifecycle of the business. Here are some tips for starting and operating a restaurant within the law.
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From SBA-Going Beyond the Spreadsheet – Automate Your Billing Process with Online Software
Preparing invoices can be a taxing and costly process for small business owners. For example, if you are a solo business owner or just don’t have the staff to develop tough internal controls, then you may well be spending too much time creating manual paper-based invoices. The Internet and cloud computing offer various options for managing the entire invoice process efficiently and seamlessly. Here are a few reasons to take your billing system online, questions to ask, and options that may fit your business needs.
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CITY'S NEW DATA PORTAL
The City of Chicago's Data Portal is dedicated to promoting access to government data and encouraging the development of creative tools to engage and serve Chicago's diverse community. The site hosts over 200 datasets presented in easy-to-use formats about City departments, services, facilities and performance. The catalog presented lists datasets alphabetically and links back to each set on the Portal. Entrepreneurs looking to develop innovative web apps should investigate the possibilities. Data sets include crime statistics, maps, budgets and more. Also, all business license data is available. Click here for more information.
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2012 SIDEWALK CAFE SEASON APPLICATIONS AVAILABLE
The 2012 Sidewalk Café Season begins on March 1st. Applications for last year's sidewalk café permit holders have been mailed. Please let us know if you have not received your application packet. New sidewalk café permit applicants may download the "Sidewalk Café Application Information Package - 2012 Season" at www.cityofchicago.org/content/city/en/depts/bacp/provdrs/public_way.html. As a reminder, the entire application process may take 30 - 45 days, so make sure to submit your completed and signed application along with all the required documents to prevent any delays in processing. Please call us at 312-744-GOBIZ (744-6249) if you have any questions.
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THINKING OF ADDING AN OUTDOOR PATIO LIQUOR LICENSE?
If a liquor establishment is adding an outdoor patio liquor license for 2012, it should start the application process now so that the license is ready to issue in the spring/summer. Too many licensee's apply for outdoor patio licenses in May/June without understanding that there is a 45-day mandatory community notification period and potential other issues that can arise that prevent the license from issuing until August or September after the season. Click here for more information.
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HAVE YOU HIRED A VETERAN?
Expanded tax credit for hiring unemployed veterans
Recent legislation expands the work opportunity tax credit.
The credit is available to businesses that hire eligible unemployed veterans who begin work on or after Nov. 22, 2011, and before Jan. 1, 2013.
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TAX STRATEGIES FOR A MOBILE OFFICE
If Starbucks is your headquarters and you spend much or most of your time out and about, you may be part of a growing group of business owners who work on a mobile basis. A laptop, tablet, and smartphone enable you to set up an office just about anywhere. Certainly, not having to pay office rent cuts your overhead substantially. Being mobile also gives you more flexibility in scheduling and running your business. But you still have costs for working on a mobile basis. Here are the tax rules you need to know.
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WHAT SHOULD I SHRED AND WHEN
When people are organizing their files, the same question comes up "What should I shred and when?" According to www.aarp.org, "Shred everything with your signature, birthdate, social security numbers, passwords, and PINs. This should be done after 45 days for credit card statements unless needed for proof of purchase or for tax reasons. Bank deposit slips or ATM receipts should be disposed of as soon as shown on the account. Bank statements, medical bills ,and pay stubs should be shredded after one year. It is recommended that you save all mortgage, taxes, home improvements, and medical prescription records indefinitely.
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IRS SCAM
A message claiming to be from the IRS Office of Professional Responsibility is being received by taxpayers instructing them to acquire a new EIN. Taxpayers may call the IRS stating they have received the email. The subject line contains the text "Acquire new EIN". The body of the message instructs recipients to obtain a new Employer Identification Number in connection with fraudulent actions. NOTE: The text in the subject line and/or body of the message may read differently, but the message is similar.
If you receive this fraudulent email, be advised of the following:
1. The IRS does not initiate taxpayer communications through email.
2. Do not reply to the sender, access links contained in the email or submit any information.
3. Forward the message as-is immediately to phishing@irs.gov
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3 WAYS TO START PLANNING BETTER FOR YOUR EXISTING BUSINESS (FROM SBA)
It's tough to build a business and keep it growing through the years. Good business planning can help a growing business stay focused and efficient, even as you manage the daily routine and changing markets. Here are three ways to get back on track with business planning.
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STARTING A BUSINESS LATER IN LIFE? FINANCING OPTIONS FOR RETIREES AND SENIORS (FROM SBA)
According to The Senior Source, in 2005, 15 percent of working people expect to start their own businesses when they retire. But how do retired and senior entrepreneurs access the capital they need? How much does starting a business cost? What loans are available? Should you break into your retirement nest egg? Here are some considerations and options for financing your post-retirement business.
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STEP UP OR GET LEFT BEHIND-HOW TO IMPROVE ENGAGEMENT WITH YOUR FACEBOOK FANS (FROM SBA)
If you operate a Facebook fan page, then you’ll have noticed a plethora of changes in recent months. While many of these changes are cosmetic, some are not, and they could have a big impact on your social media success. So how is Facebook rewarding engaged business pages? Here’s how it works.
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URGENT SCAM ALERT: BEWARE OF FAKE COMPLAINT E-MAIL CLAIMING TO BE FROM BETTER BUSINESS BUREAU (from SBA & BBB)
The Better Business Bureau (BBB) warns businesses to beware of a malicious e-mail claiming to be from the BBB about a complaint filed against a company. The BBB does not send complaints out as attachments.
The phishing email is sent from multiple e-mail addresses and has in its subject line a nine digit complaint number. BBB Accredited and Non-Accredited Businesses have been targeted and some consumers have also received the e-mail. Click here for more information.
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GOING ON THE ROAD? HOW TO DEDUCT YOUR SMALL BUSINESS TRAVEL EXPENSES (FROM SBA)
Going on a business trip? Visiting a potential vendor, customer or wholesaler? Confused about what business travel expenses you can and can’t deduct? Here’s what you need to know about what you can and can’t deduct as well as some tips, tools, and mobile apps for managing your expense documentation.
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ARE YOU CLASSIFYING INDEPENDENT CONTRACTORS CORRECTLY? IRS OFFERS BUSINESSES AN AMNESTY (FROM SBA AND IRS)
If your small business uses both employees and independent contractors you may think there are few differences between them – they do the same work, have similar goals and you pay them both for their contributions. But regardless of whether you see any day-to-day differences, the IRS does. This article explains the gray area of contractor/employee classification and outlines a new IRS “amnesty” program designed to help business owners correct their worker classification mistakes.
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ANTI-DISCRIMINATION ORDINANCES FOR BUSINESSES (FROM COMMISSION ON HUMAN RELATIONS)
Every business in the city of Chicago, regardless of number of employees, is subject to the City's two anti-discrimination ordinances. A Chicago business cannot discriminate against customers or employees - potential or actual - based on any of the 14 protected classes listed in the ordinances. Click here for more information from the Commission on Human Relations.
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NEW ORDINANCE INTRODUCED TO EASE RESTAURANT INSPECTIONS FOR LOW-RISK FOOD ESTABLISHMENTS (FROM SBA)
Mayor Rahm Emanuel has introduced an ordinance that will make doing business in Chicago easier for new and existing food businesses by initiating a self-certification pilot program for low-risk food inspections and improving the efficiency of City inspectors. If passed, this ordinance will give the Commissioner of the Department of Public Health the ability to create an alternative certification system for these low-risk food retailers so that they can self-certify, while saving taxpayer dollars and maintaining current health requirements to protect consumers. Chicago would be one of the first major cities to implement such a program.
Click here for more information.
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AS OF JANUARY 1, 2012, ALL CITY OF CHICAGO BUSINESS LICENSE RENEWALS MUST BE PROCESSED ONLINE (FROM BACP)
Renew Your Business License Online
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IRS ISSUES GUIDANCE ON TAX TREATMENT OF CELL PHONES
The Internal Revenue Service issued guidance designed to clarify the tax treatment of employer-provided cell phones. The guidance relates to a provision in the Small Business Jobs Act of 2010, enacted last fall, that removed cell phones from the definition of listed property, a category under tax law that normally requires additional record-keeping by taxpayers. The notice issued provides guidance on the treatment of employer- provided cell phones as an excludible fringe benefit. Click here for more information.
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UNDERSTANDING SBA 7(a) LOAN FEES
One of the most misunderstood (and vilified) elements in applying for a loan, any loan, are those pesky fees that seem to pop up all over the place and may add up to a significant amount. Understanding loan fees will go a long way toward helping you face the application process with a clear view of how much you should expect to pay.
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IS THERE REALLY FREE MONEY TO OPEN A BUSINESS?
It is not uncommon for potential business owners to call or visit the SBA asking for grants or free money to start their business. In most cases, this information is incorrect or misleading - and sometimes, business owners are the target of a scam. So what's really available for FREE?
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MOVING OUT OF THE HOME OFFICE - FOUR TIPS FOR GROWING BUSINESSES (FROM SBA)
Running a home-based business has numerous advantages for many business models, and for businesses of stages. However, small business owners often find they are not cut out to work from home, or they’ve found their enterprise growing and need to hire employees, or they simply need a more professional space in which to conduct business. How do you make a seamless and cost-effective transition from a home-based business to a professional office space? Here are some best practices to consider as you expand beyond your home-based business environment.
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WHAT EMPLOYERS NEED TO KNOW ABOUT CLAIMING THE SMALL BUSINESS HEALTH CARE TAX CREDIT
Many small employers that pay at least half of the premiums for employee health insurance coverage under a qualifying arrangement may be eligible for the small business health care tax credit. This credit can enable small businesses and small tax-exempt organizations to offer health insurance coverage for the first time. It also helps those already offering health insurance coverage to maintain the coverage they already have. The credit is specifically targeted to help small businesses and tax-exempt organizations that primarily employ 25 or fewer workers with average income of $50,000 or less. Read More
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WHAT IS A HOME OCCUPATION LICENSE & WHEN IS IT NEEDED (FROM BACP)
A home based business is when a home is used for a business that is secondary to the residential use of the home. The most common are consulting or administrative/office type of activities. Click here for more information on requirements to obtain a home occupation license and home occupation rules.
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BUSINESS LICENSES (FROM BACP)
The Department of Business Affairs and Consumer Protection (BACP) issues over 70 different types of business licenses in the City of Chicago and regulates industries as diverse as retail, food establishments, day care centers, manufacturing facilities and motor vehicle repair shops. BACP also regulates the sale of retail liquor in Chicago.
Applying and renewing your license online is easy and quick! Most types of business licenses can be applied for online. When applying in person- a BACP Business Consultant will help determine what licenses or permits you need, process your application and also connect you with business resources. We are located in City Hall, 121 N. LaSalle St, Room 800. Office hours are Monday through Friday from 8:30 a.m. to 4:30 p.m. You can request an appointment with a business consultant here or by calling 312-74-GOBIZ (744-6249).
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HAVE YOU BEEN A VICTIM OF BAD CHECKS?
Cook County State’s Attorney Anita Alvarez has implemented a cost free service in an effort to assist businesses, professional services and individuals victimized by bad check losses.
The Bad Check Restitution Program aids businesses and the service industry in the recovery of losses, associated with NSF (non-sufficient funds) and account closed checks, as well as holding bad check writers accountable for their actions. The program is provided at NO COST TO BUSINESSES OR TO TAXPAYERS. It is funded solely through statutory fees paid by the bad check offenders, making this unique program totally self-supporting. If you need more info please go to www.checkprogram.com/merchants
or call Esteban Correa at 866-581-7287
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