SmallBusinessExecutiveInforming, Inspiring and Connecting Businesses
Judge rules Illinois use tax law unconstitutional
The Illinois use tax law that spurred CouponCabin and FatWallet to leave the state last year was ruled unconstitutional Wednesday by a Cook County Circuit Court judge who said it violates the Interstate Commerce Clause and Internet Tax Freedom Act, according to the Performance Marketing Association, which had filed a lawsuit challenging the use tax’s constitutionality. Cook County Circuit Court Judge [...]
Business ethics: A matter of principle
How America conducts business has been called into question during the current economic crisis. Greed, ambition and poor regulation frequently have been raised, while ethics – or the lack of — doesn’t always make the news. Writing for Jewish Business News, Chicago journalist Jodie Jacobs asked five Chicago experts to share their views on the role of ethics in business.
Businesses lean on technology to cut gas usage
By Ann Meyer Fibrenew franchise owner Ivar Vankemenade has lessened the brunt of the recent spike in gas prices by relying on technology to help him shave pennies here and there. His Global Positioning System diverts him around traffic jams en route to repair leather upholstery on-site for customers, while an app tells him which [...]
Seasoned entrepreneurs forecast disruptive technology will fuel new startups
By Ann Meyer For SmallBusinessExecutive Expect to see rapid change in Chicago’s business community in the coming year, as technology disrupts old industries. “Think about what the Internet has done in the last 10 years,” said Matt McCall, partner at New World Ventures. It has created companies, while putting others out of business. “I also [...]
In hot patent market, new rules expected to spur swifter filings
By Ann Meyer A business’s value often lies with its intellectual property, as Google’s planned buy-out of Motorola Mobility suggests. Google wanted Motorola Mobility’s 17,000 patents and was willing to pay $12.5 billion in the deal that was approved Friday by shareholders of the Libertyville-based mobile technology company, experts said. In general, 80 percent of [...]
Alternatives are key when small business execs negotiate strategically
By Ann Meyer – With the manufacturing industry still feeling the sting of a slow-to-recover economy, business owner Mary Koonce said customers of her industrial electrical company are trying to negotiate longer payment terms and discounts. “It’s hard for small businesses to handle. We’re the bank for them” when they delay payment, said Koonce of [...]
All the world’s a market for local manufacturers selling online
By Ann Meyer Until a few years ago, Mount Prospect-based Perfection Spring & Stamping Corp. used 18 sales agencies to sell its parts. But with the downturn, it axed most of the agencies and started to market online. Now the components manufacturer has 255 searchable pages and more than 1 million results on Google when [...]
At Care Team Connect, government regulation furthers entrepreneurial concept
By Ann Meyer – Leave it to entrepreneurs to create solutions to problem areas the government has stepped in to regulate. For Ben Albert, co-founder and chief executive at Evanston-based Care Team Connect, professional expertise in health systems coupled with personal experience helping to coordinate medical care for his grandfather from a distance spawned a [...]
Small business owners willing to trade tax credits for less red tape
The more government tries to help, the more some small businesses say “thanks anyway.” For the amount of time it takes to read the fine print of most government programs, Roy Chomko, president of Adage Technologies in Chicago, says he could be finding new customers or serving existing ones. As a result, he is among [...]
Capital constraints deter job creation: poll
By Ann Meyer With President Barack Obama expected to announce a jobs act Thursday night, experts said what small businesses want most is access to capital. Without capital, small businesses often are constrained from adding workers. And after business owners are turned down for bank loans or other types of financing, they often are reluctant [...]
