Get Serious About Your Business

Starting and running a business takes passion, commitment, and hard work—but it also requires the right legal and structural setup to ensure long-term success. Many business owners overlook crucial aspects of compliance, like selecting the right structure or keeping up with annual filings. If you're serious about your business, now is the time to make sure you're fully compliant and set up for growth. Here’s what every Illinois business owner needs to know.

Is Your Business Set Up for Success?

As a business owner, it's easy to get caught up in the day-to-day operations of making sales, managing clients, and planning for growth. However, an often-overlooked area is ensuring that your business structure and filings are set up properly. If you want your business to thrive long-term, it is crucial to take these legal and structural aspects seriously.

Getting serious about your business structure is essential.

Choosing the Right Business Structure

Is your business currently a sole proprietorship, partnership, limited partnership, LLC, or corporation? The type of structure you choose can impact everything from tax obligations to liability exposure. Each structure has unique benefits and responsibilities, and selecting the right one for your goals is essential.

Filing Annual Reports with the Illinois Secretary of State

For business owners in Illinois, maintaining compliance includes making annual filings with the Illinois Secretary of State. This may seem like just another form to complete, but failure to file these annual reports can result in penalties or even the dissolution of your business.

Keeping a Proper Minutes Book

If you operate as an LLC or corporation, are you maintaining a proper Minutes Book? For many business owners, this term might be unfamiliar—but it’s a fundamental requirement. A Minutes Book contains records of essential meetings, decisions, and actions, ensuring that your business is legally compliant. If you're unsure about what this entails, it’s time to get up to speed.

Maintain a Minutes Book.

If any of the above sounds unfamiliar, don’t worry; there’s help available. I, Burt Brown, offer a no-charge consultation to discuss your business structure, compliance needs, and the steps you can take to keep everything in order. Call me at (630) 381-8017 to schedule a time and make sure your business is on the right path to success.