Although purchasing commercial real estate has its risks, entrepreneurs and business owners in various industries in Illinois can benefit from buying commercial space. However, buying commercial property is not the right fit for every situation and is a decision that should be approached carefully by business owners. Buying versus leasing In many cases, business owners are forced to pay higher rental costs when the real estate market slows down. Purchasing commercial property eliminates … [Read more...]
Archives for 2014
Buying a commercial property for your business can be a good investment
Posted on September 19, 2014 //
Banks accused of violating property owners’ rights over illegal break-ins
Posted on September 17, 2014 //
According to Illinois law, homeowners who default on their mortgage payments are allowed to stay in their homes until the foreclosure process is completed. If the occupant moves out before the foreclosure process is over, it is up to the bank to maintain the property. In many cases, the bank turns over these responsibilities to another company. In Illinois, Safeguard, a company that contracts with mortgage lending services, allegedly abused their responsibilities and had a case filed against … [Read more...]
Medicaid planning: The risks of doing it on your own
Posted on September 16, 2014 //
According to the Congressional Budget Office, research suggests that more than two-thirds of seniors over the age of 65 will need some type of assistance during the remaining years of their life to deal with a loss in their ability to function independently. Although the price of long-term care varies, LongTermCare.gov estimates that it costs: $6,235 a month for a semi-private room in a nursing home facility$21 an hour for the assistance of a home health aide$3,293 a month for care in an … [Read more...]
Tips on creating a good business pitch for customers
Posted on September 15, 2014 //
It could be said that the best salespeople do not actually sell but solve. Problems, that is. The heart and soul of effectively promoting a product or service is really all about getting customers to need and want it. The way to do that is to make them see that it does, or offers, something useful to them. Chicago companies of all sizes and types must find a way to help their salespeople drop the old-fashioned sales mentality and adopt the more profitable relationship creating approach. Do … [Read more...]
Prepare before buying real estate as an investment
Posted on September 12, 2014 //
Investing in real estate can be a highly profitable venture. However, before purchasing a piece of residential property, those interested in making this type of investment should carefully prepare to ensure it benefits them. Understand the property and the location After finding a piece of real estate, future investors should check the condition of everything before signing a contract. For example, investors should turn on all of the appliances, check all of the light fixtures, and … [Read more...]
Proposed scheduling rules introduced for truckers ignites heated debate
Posted on September 5, 2014 //
All companies in Illinois that rely upon trucking as the means by which products are shipped to or from their locations should have a natural concern to stay abreast of major changes in the transportation industry. Certainly trucking companies, owner-operators and businesses that operate their own fleets find this to be an integral concern of their everyday operations. In July of 2013, the Federal Motor Carrier Safety Administration enacted new legislation that represented sweeping reform … [Read more...]
Trucking companies embracing natural gas vehicles to save money
Posted on September 4, 2014 //
The transportation industry may not be one of the most glamorous but it most certainly is one of the most important in our society. It is essentially transportation which allows Chicago grocery store shelves to be kept full and that gives consumers access to what they need and want, when they need and want it. Like any industry, the push to manage or reduce operational costs is ever-present whether for small owner-operators, large trucking companies or corporations with their own trucking … [Read more...]
Preparing your business for the new Affordable Health Care Act
Posted on September 2, 2014 //
Chicago is home to a plethora of businesses that spans many sizes and industries, all of which may be affected by changes in health care legislation. Small businesses in particular may have unique concerns when it comes to the new Affordable Health Care Act. Understanding exactly what this law requires them to provide to their employees, and what benefits or penalties they may be subject to is important. The U.S. Small Business Administration offers information that can help an individual … [Read more...]
Tips on setting up an effective marketing plan for your business
Posted on August 29, 2014 //
For existing businesses and startups alike, strong marketing plans are essential elements for ultimate success. For many Chicago-area business owners who might be product or service experts but not marketing professionals, developing or adjusting these plans can be complex and time consuming. The following are some tips that can serve as a guide when a new marketing strategy is needed. Start with the basics Hubspot provides a great reminder that starting with the right foundational … [Read more...]
The Sarbanes Oxley Act and your business: What you need to know
Posted on July 22, 2014 //
Financial Executives International recently published an article indicating that full compliance with the now 12-year-old Sarbanes Oxley Act has yet to become reality. Citing results from its own research as well as from Protiviti’s 2014 Sarbanes Oxley Compliance Survey, FEI also reports that the majority of executives believe the costs associated with continued compliance will keep growing or, at best, hold steady with current levels. Chicago area business owners are likely to experience … [Read more...]
