WASHINGTON – Treasury Secretary Timothy Geithner announced Wednesday a broad plan to reform corporate taxes that includes lowering the corporate rate to 28 percent from 35 percent, while eliminating myriad business tax breaks and credits. Unfortunately, the proposal fails to ensure parity between small business and large business, and small businesses soon could be facing tax rates of up to 40 percent or more.

“Although the proposal does include some positive language for small business tax credits, NSBA believes firmly that the only way to ensure fairness, transparency and eased complexity of the U.S. tax code is broad reform,” stated NSBA President Todd McCracken. “And that must also include individual income taxes.”

In addition to punting on the tax rates paid by the 83 percent of small businesses taxed at the owner’s personal income tax level, this proposal would make two other potentially harmful changes by eliminating “last in first out” accounting and adjusting depreciation schedules to scale back capital cost recovery.

On a positive note, the proposal does include provisions that would help small businesses expand by making permanent the research & experimentation tax credit, increasing Section 179 expensing to $1 million, doubling the deduction for start-up costs from $5,000 to $10,000, and allowing cash accounting on businesses with up to $10 million in gross receipts. The proposal also mentions expanding and simplifying the health insurance tax credit, but provides few details.

“This plan appears to be driven by the bipartisan consensus that a greatly simplified tax system can unleash greater economic growth,” stated NSBA Chair Chris Holman, CEO of MichiganBusinessNetwork.com and president of The Greater Lansing Business Monthly. “Unfortunately, without broad tax reform, such as the Fair Tax, this proposal falls short of that.”

NSBA advocates on behalf of America’s entrepreneurs. A staunchly nonpartisan organization, NSBA reaches more than 150,000 small businesses across the country and is proud to be the nation’s first small business advocacy organization. For more information, please visit www.nsba.biz.

As we evaluate the site, we’re looking for input from Chicago’s small business community. We want to hear from current users as well as prospects who haven’t visited the site before. What do you most appreciate about the site? What do you want to see more of?

Please help us by taking a short reader survey and spreading the word to others who might be interested. The results are anonymous.

Here’s the survey link: http://kwiksurveys.com?u=SmallBizChicagoMarch2012

Thanks in advance for your help. We really appreciate it. And please keep reading and contributing to SmallBusinessExecutive.

Regards,

Ann Meyer, Editor

SEATTLE and WASHINGTON, Feb. 20, 2012 /PRNewswire-USNewswire/ — Retail is evolving at a dizzying pace. It’s a new universe out there, with retailers exploring new ways to reach customers, seeking out new life in their brands and boldly charting new worlds of real estate properties where no retailer has gone before.

Colliers International’s annual U.S. Retail Highlights: 2012 Outlook offers an in-depth, 13-page report that chronicles current retail conditions along with the trends that will shape the 2012 retail landscape. The report, which was released today, also contains a summary of metro-area operating metrics and a two-page quarterly Retailer Report Card assessing the dominant brands in every category.

The Colliers’ report also reveals a potential game-changer on the retail horizon: A new type of consumer who researches every purchase online and compares multiple stores’ inventories on their smart phones while simultaneously shopping in the store. What do these shoppers want? They are looking for that special buying experience or product, the one that’s just right for them and they are always concerned about the lowest price.

According to Ann Natunewicz, national manager of U.S. Retail Research for Colliers International’s Retail Services Group, 2012 is shaping up to be a pivotal year for the industry. “2012 is a huge year for retail, and for real estate in general. How landlords and retailers respond to mobile commerce, their ability to partner and innovate, will determine how well they monetize shoppers who are already in their physical space—a huge advantage over earlier e-commerce, which was all transacted somewhere else.”

Colliers’ retail report introduces nine themes and trends to watch in 2012, including opportunities for strategic acquisitions, the marriage of brick-and-mortar with mobile e-commerce and the likelihood of more big-box stores moving into previously underserved urban areas.

Nine trends in retail to watch in 2012

– A wild ride for equities in retail real estate investments: U.S. equities markets will continue to react to news on any and all economic indicators, including ongoing news of store closings. The angle of these reports will vacillate between opinions of “smart consolidation of poor-performing assets” to a possible harbinger of corporate economic trouble.

– U.S. manufacturing improvement accelerates: Look for sales of big-ticket items to improve as consumer optimism (and beat-up cars and fridges) releases pent-up demand for durables. In this environment of low interest rates, businesses and households may be more comfortable with—or more capable of—taking on new debt.

– “Customer experience” will trump “price” in the value equation: Retailers increase value by either lowering their prices or increasing the quality of their “customer experience,” which means removing every potential barrier that stands between converting a customer’s interest to purchase into the intent to purchase. Innovation in improving the customer shopping experience whether online or in the store will be the key.

– Retailers will roll out more limited editions, exclusives and mobile-device specials: 2011 retail sales piqued shopper interest through exclusives and limited editions (such as the Missoni label at Target) or with “limited-time offers” that drove traffic. Limited-time offers generate urgency in a shopper who must be “sold” before parting with her money, especially for a full-price item. Merchandise and deals only available online or via a mobile device are expected to increase this year.

– More strategic acquisitions across brands, assets, property sectors and technology platforms: Retailers are investing in smaller companies to enhance their multichannel integration. Strategic acquisitions allow acquirers to extend their brands outside their core competencies, such as Starbucks picking up juice bar concept Evolution Fresh.

– Distressed retail property asset pipeline begins to move: Data shows that more than $350 billion in commercial real estate loans will mature both this year and in 2013. The opportunity for retail investment lies between the trophy assets still trading at low cap rates and the large pool of marginal, low- or no-cash flow assets that can’t be refinanced, which will either default on maturing debt or be transacted in a “fire sale.” Also, more institutional players will be scouting around for retail portfolios (public REITs are sitting on huge capital reserves).

– Foreign investors turn to U.S. retail: Yield-seeking investors need places to park their money, and the stability of U.S. property markets still make them attractive destinations for “flight capital.” Recent data confirms that the U.S. is still a leading destination for global capital flows. Among property types, foreign capital may now look to shopping centers or broken land deals in space-constrained or high-growth markets.

– Expanded capacity, but still stringent underwriting: Non-performing real estate loans remain highly problematic for all banks, but stronger regional banks have slowly resumed commercial lending. As mortgage production ramps up, investors will see banks being more competitive, but with far more stringent underwriting standards. Properties need to demonstrate solid cash flow and real net operating income, assume conservative rent increases and any loans approved will be recourse, except for the best customers.

– Urban site-seeking retailers, including big boxes, are back in force: The economic crisis hit suburban communities much harder than their urban counterparts, so as retailers seek out lower-risk growth opportunities, underserved urban areas fall firmly within the crosshairs. Blocked out of urban areas in the past because their stores were too big, big-box retailers now have two options: They can go in with their large-format stores, as renewed interest in urban locations coincides with municipalities’ worsening fiscal problem, or retailers can test small-format store options, take infill space and co-opt share from smaller local operators.

Mark Keschl, national director of retail for Colliers International, is optimistic about the overall state of retail: “The economy is showing improvement on multiple fronts including traditional industries such as manufacturing. Retailers have spent the last few years right-sizing their stores and creating leaner, more efficient operations. Many have large surpluses of cash, which they can deploy to be even more competitive. Even if economic indicators remain inconclusive for the next few quarters, the retail space is poised to generate a lot of headlines as the competition to win shoppers’ hearts and wallets grows ever more fierce. 2012 should be a promising year.”

A complete PDF version of the 13-page report, “U.S. Highlights: 2012 Retail Outlook ,” is available at http://tinyurl.com/7xclzcm.

About Colliers International

Colliers International is the third-largest commercial real estate services company in the world with 12,500 professionals operating out of more than 500 offices in 61 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX; FSV and FSV.PR.U), Colliers provides a full range of services to real estate users, owners, and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International as the top U.S. real estate company and the latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate brand in the world.

Author Larry Bloom provides advice for objective decision-making.

By Larry Bloom

Guest columnist

Having spent 30-plus years successfully growing a small company to over $700 million in revenue and selling to thousands of small business customers along the way, I have observed bad decisions and business failures from the unique vantage point of an insider. It seems, however, the reasons for failure or other significant business problems are frequently off point. If the owners really knew what they were doing wrong, they might have been able to fix the problem. Owners tend to blame sudden problems from the bank, the government, competition, employees, family members or problematic partners. Rarely do they point to the quality of their own thinking.

The Problem: Bugs in our thinking

The telltale sign of these issues is when a leader exclaims all too late, “What the heck was I thinking when I made that decision?” And likely most of us have said this at one time or another. The real problem stems from the fact that, just like computers can have bugs, all humans have unrecognized bugs in the way we think and make decisions Rather than use complex psychological terms, I call these mind-bugs—bugs in the critical internal processes that occur in the five inches between our ears. Mind-bugs can affect fact gathering, analysis, insights, judgments and decisions. And they  increase business risk accordingly. Today’s stressful, time-constrained business environment reinforces the problem. So, what causes owners and leaders to convince themselves their practices are sound when problems exist? Look no further than mind-bugs. Here are five questions to ask that will help avoid mind-bugs and improve the quality of any decision.

1.  Have I sufficiently considered how the personal stake or vested interest for each person or group involved influences this evaluation?

Interactions with groups influence our thoughts. Every organization consists not only of individuals, but a hierarchy of power among those individuals. No matter how noble the group’s goal, there is often a struggle for power beneath the surface. Personal strategies may be obscure and not apparent even to those who are using them. Mind-bugs can cause us to believe that an argument and its support are sufficient when there are actually gaps. Pausing to objectively consider the influence of the group’s definition of reality, as well as bureaucracy, power structure and vested interests will improve any decision.

2.   Do I adequately understand how my own beliefs and desires color or influence any judgments or inferences I make?

Whenever we reason, we do that within a point of view. Any flaw in that point of view is a possible source of faulty thinking and mind-bugs. Belief mind-bugs may cause us to unknowingly draw conclusions and make decisions based on limited, unfair and misleading personal interpretations of information. We can get so locked in we are unable to see the issue from other rational points of view. Belief mind-bugs are so strong that they can cause us to corrupt the noblest virtues and justify it to ourselves. You will not need to look long or deeply at religion, politics and organizations to find many examples of belief mind-bugs going unchallenged and wreaking havoc. When we pause to consider the influence of our own point of view, desires, values, principles and emotional connections, the quality of any decision improves.

3. Have I reasonably considered if there are any critical gaps in the sufficiency of the information used to support our arguments?

Mind-bugs in business can cause us to believe that an argument and its support are sufficient when there are actually gaps. This is particularly true if we have a vested interest or there is a group dynamic involved. We may present and accept data as sufficient for a decision that does not completely frame the situation in a balanced fashion as long as it supports the decision we subconsciously want to make. When we make decisions based on relevant and significant information of adequate breadth and depth, the quality improves and the risk declines.

4. Am I completely confident that the data we are depending on is accurate?

Accuracy of information is one of the underpinnings of any decision. If inputs are not accurate, then decisions will be faulty regardless of the quality of the ensuing decision-making process. We may fail to appreciate the difference between unverified information and fact. Or we may naturally tend to believe our thoughts are accurate because they are ours, and therefore the thoughts of those who disagree are wrong. Some may see and believe in patterns or connections in random or meaningless data when none exist. Others may reject new facts because they contradict entrenched rules and norms, or they may favor data because it supports what they strongly desire. Decisions are improved when they are based on clearly defined, reliable, factual, precise and fair information.

5. Should I continue with this decision if my answer is no to any of the first four questions?

Despite the fact that most decisions involve alternatives and that all decision processes involve problem structuring and evaluation, decisions differ in important ways. Most obviously, decisions differ enormously in difficulty. Most, in fact, are trivial and will not require further attention. But it’s the ones that do warrant attention that you can’t afford to miss. This “Five Question Scan” will substantially reduce risk for any decision you are about to make, and it will cultivate higher quality thinking. It does, however, require regular practice and commitment as mind-bugs will present themselves advising that this is a waste of time.

Larry J. Bloom spent 30-plus years helping to grow a small family business to over $700 million in revenue. He is the author of “The Cure for Corporate Stupidity: Avoid the Mind-Bugs that Cause Smart People to Make Bad Decisions,” private adviser to several business leaders, a board member, and an owner of a startup media and software company that promotes better thinking. For more information, please visit www.curecorporatestupidity.com.

Three out of four business owners think consumer demand either will stay the same or increase, a perspective that likely is informing their positive feelings about the economy. Eighty-one percent are confident or very confident that their businesses will be more profitable in the next 12 months than they are today.

The Kauffman Foundation sponsored the survey in conjunction with LegalZoom, the nation’s leading provider of online legal document services and legal plans to young companies. The findings are based on 800 responses to a nationwide survey in January 2012 distributed via email to LegalZoom clients who formed their entities within the past 12 months. The Startup Confidence Index is the first in a series of quarterly surveys to gauge entrepreneurial confidence. The next survey will be conducted in April 2012.

Robert Litan, vice president of research and policy at the Kauffman Foundation, stressed that while the survey involved self-responses and may not be scientific, it nonetheless has important implications. “Despite the recent downward trends in business starts and startup hiring, these data suggest new business owners have adopted the optimistic entrepreneurial spirit as they anticipate what lies ahead for their businesses in 2012,” Litan said. “Entrepreneurs drive the economy and, while this survey is one monitor on one group of entrepreneurs who matter, it may be a leading indicator that the trends are turning around.”

“High confidence in increased profitability is a great sign of things to come,” said John Suh, CEO of LegalZoom. “Given that small businesses are the engine of job growth, it will be interesting to see how quickly this optimism translates into new hiring. We will be monitoring how plans to hire additional staff in the upcoming year (i.e., 25 percent of those surveyed) change over time.”

Consistent with other recent Kauffman Foundation research, the majority of the survey respondents – 69 percent – are over age 40. Forty-three percent of them are 50 or older. Nearly 60 percent of respondents indicated that they operate their businesses from their homes. The complete findings are available at www.kauffman.org/confidenceindex.

About the Kauffman Foundation

The Ewing Marion Kauffman Foundation is a private nonpartisan foundation that works to harness the power of entrepreneurship and innovation to grow economies and improve human welfare. Founded by late entrepreneur and philanthropist Ewing Marion Kauffman, the foundation is based in Kansas City, Mo. and has approximately $2 billion in assets. For more information, visit www.kauffman.org, and follow the foundation on www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn.

About LegalZoom

LegalZoom is the nation’s leading provider of online legal document services and legal plans to families and small businesses. LegalZoom provides self-help services and a legal plan where customers have access to attorneys at a fixed monthly fee. The company is headquartered in Glendale, California, with regional headquarters in Austin, Texas. For more information, visit http://www.legalzoom.com/.

John Tschohl discusses how to improve customer service.

By John Tschohl

Guest columnist

If I were to ask CEOs to define customer service, I would guess most would say: Customer service is providing the customer with fast, accurate and courteous service. While those are elements, customer service involves so much more. Customer service is whatever the customer thinks it is. That includes quality products, convenience, competitive prices, timely responses, reliability, a personal touch and knowledgeable employees. Customer service means doing what you say you will do, and doing it when, if not before, you say you will do it. It is operating on the belief that no transaction is complete unless the service customers receive is sufficient to motivate them to return.

Most CEOs and other executives don’t fully understand customer service and its huge impact on sales and profits for their organizations. They don’t understand what they should (and shouldn’t) do to provide the best possible service to their customers. In fact, many of them have false beliefs when it comes to customer service. Here are three myths that hamper organizations as they strive to provide exceptional customer service to attract and retain customers:

Myth No. 1: Adding employees improves customer service. You can add all the people you want, but more doesn’t necessarily equal better. If you have 50 employees and add 50 more, all you’ve done is double your workforce. But if you have 50 employees focused on customer service who are knowledgeable, enthusiastic and have positive attitudes, you will have a winning team. If you train those employees in the art of customer service and give them the tools they need to take care of your customers, then sales and profits will skyrocket.

Myth No. 2: The more you pay employees, the more committed they will be to customer service. I’ve addressed this myth for more than three decades to clients throughout the world, stressing that money is not a motivator. If you doubled every employee’s salary tomorrow, it would not necessarily improve customer service. If you have employees who do not provide good service, who are not committed to taking care of your customers, what you pay them will not change the way they operate.

What will motivate employees to provide better customer service? Recognition. There is no stronger motivator than positive reinforcement and public praise. Think of it this way: If you are a parent trying to teach your young child to put away his toys at the end of the day, what do you think will be the stronger motivator—a dime each time he does so or constant praise, especially in front of fam

ily and friends? If you recognize the efforts of employees who go above and beyond to take care of customers, they will continue to improve the service they provide. A $200 bonus would be gone in a day or two, but a word of praise will live on indefinitely. Recognition is the most powerful motivational tool you have — use it.

Myth No. 3: Your employees are empowered. This is a delusion for most managers and executives. Empowerment means that your employees have the authority to do whatever it takes to immediately solve a customer’s problem to the satisfaction of the customer, not the organization. To empower your employees, train them on the skills they need to provide exceptional service. Don’t handcuff your employees with cumbersome policies and procedures. Give them the authority to bend and break the rules to serve your customers.

It takes a miracle to get employees to make empowered decisions because they think they will be fired if they make a mistake. Let them know that it’s OK to make a mistake in the process of providing exceptional customer service. Without empowered employees, you will never be a service leader.

Don’t underestimate the power of customer service. Exceptional service builds loyalty, which in turn builds profits.

John Tschohl is founder and president of Service Quality Institute in Minneapolis. He has written several books on customer service and has developed more than 26 customer-service training programs that have been distributed throughout the world. Tschohl’s monthly strategic newsletter is available online at www.customer-service.com.

Patrick Bet-David offers advice to startups on overcoming obstacles.

By Patrick Bet-David

Guest columnist

Roadblocks. Detractors. Broken promises. Welcome to the world of entrepreneurs and startups. We all knew what we signed up for when we decided to take the leap and become entrepreneurs. We all knew that we weren’t going to be the next Apple, Facebook, Amazon or Bank of America overnight.

I remember day one of our financial services firm, People Helping People (PHP). I had to tell my recruited team of new agents that there was a 90 percent chance we would be out of business within six to 12 months. But I also said that if we could make it, we could build the largest financial marketing organization in America. Two years later, we had over 700 agents in 33 states.

But it wasn’t easy. When we started this company in 2009, we didn’t have startup funds. We struggled to get ourselves off the ground with nothing more than our persistence and belief in our cause and vision.

With that being said, here are 10 practical tips for entrepreneurs to try when they are short on time or money:

1. Ask for advice from people who have been there. There are lessons that can only be learned from experience – yours or someone else’s, the hard way or the easy way.

2. Minimize your own personal expenses to the lowest possible. Get rid of your movie channels and stop eating out. You’d be amazed how little you can live on when you have more important things to do with your money.

3. Re-create yourself as someone who can succeed. If your current level of thinking isn’t going to get you past your existing challenge, it’s time to look at yourself differently. Set aside at least four to five hours a week for personal and professional development. This is a must if you want to fast-track success.

4. Constantly push the envelope and challenge yourself like you never have before. A good personal trainer will change up your workout every so often to keep your body and muscles developing. The same is true of entrepreneurs. If you feel stuck in a rut, perhaps you are not taking on new challenges outside of your comfort zone.

5. Work like it’s 1880. While everyone else is fine with a 40-hour workweek, you’re doubling that. All the great ones worked their tails off.

6. Become extremely curious about new information and tools, including all that social media has to offer. If you’re using old school methods of connecting and communicating, you’re limiting your reach and influence.

7. Remember why. Remind yourself every day why you chose to be an entrepreneur. Your “why” will be the gas in your tank on long days when time, money or good news is in short supply.

8. Exercise often to keep your mind fresh (so it moves fast on ideas). There is a very real link between the health of your body, mind and business. Make time for exercise. It is every bit an investment in your future.

9. Elevate imagination of your team to a whole new level. Brainstorm. Have creativity sessions. Allow yourself to imagine “what ifs” that may seem far-fetched. While many adults stop using their imaginations as much as they used to, the great ones know that imagination is a powerful tool for designing the future.

10. Become obsessed about reading. There’s no challenge or obstacle that hasn’t been written about by someone who has already gone through it. Reading allows us to absorb the wisdom of the ages.

I know it sounds crazy, but the most important secrets behind a successful entrepreneur are the ones you can’t see or touch. They include a mindset and drive that simply doesn’t quit.

 Patrick Bet-David was born and raised in revolutionary Iran. He immigrated to the United States with his family at the age of 12 in 1990. Bet-David joined the U.S. Army in 1997, where he was stationed with the 101st Airborne Division. After discharge from the Army, Bet-David got involved in the financial services industry. He is the founder of People Helping People (PHP), a financial services firm, and author of the recently published book, “Doing the Impossible” (January 2012).    

Joseph Feldman Associates has launched a national survey of middle-market executives and their advisers to learn more about their greatest challenges and potential for sharing best practices and “lessons learned” related to acquisitions.

“We look forward to wide participation in this study and interest in sharing experiences among middle-market executives,” said Joseph Feldman, president of Joseph Feldman Associates.

The survey is available online at:  https://www.surveymonkey.com/s/JFA_Middle_Market_Acquisitions_Whats_So_Hard.

Wilmette, Ill.-based Joseph Feldman Associates (www.josephfeldman.com) provides strategy development and implementation consulting for growing companies, including acquisitions, divestitures and other non-routine projects.

WASHINGTON – The U.S. Small Business Administration’s February web chat will offer business startup advice for entrepreneurs. If you are considering starting a business in 2012,  the Small Business Administration provides resources for finding a mentor, improving your business skills and getting training to help boost your ideas.

Janice Washington, state director of the Arizona Small Business Development Center Network, will host a web chat called “New Year, New Business: How to Start it Right” from noon to 1 p.m. Central Standard Time Feb. 16. An experienced business consultant and former business owner, Washington will answer questions about the early steps to take when starting a business and the tools and resources that can help to get a small business idea off the ground. SBA’s web chat series provides small business owners with an opportunity to discuss relevant business issues online with experts, industry leaders and successful entrepreneurs. Chat participants have direct, real-time access to the web chats via questions they submit online in advance, and during the live session. Participants will gain valuable information on how to participate in the program to gain increased access to government contracting opportunities.

Participants can join the live web chat, and also post questions before the Feb.16 chat by clicking on the web chat event under What’s New at www.sba.gov. To review archives of past web chats, visit online at http://www.sba.gov/content/monthly-web-chat.

The Chicago Family Business Council will begin operating under the umbrella of DePaul University’s College of Commerce starting March 1, bringing its myriad programs and services to DePaul students, alumni and the local business community in the heart of the city’s Loop.

The council helps family-owned and closely held businesses achieve their goals through peer support and educational programs. At DePaul, the council will work with the College of Commerce, especially the Coleman Entrepreneurship Center, to provide educational programs for students and local businesses.

“Working with the Chicago Family Business Council, the College of Commerce’s Coleman Entrepreneurship Center will be able to increase its impact on the entrepreneur community and enhance our students’ exposure to successful entrepreneurs,” said Ray Whittington, dean of the College of Commerce. “Our alumni will receive discounts on CFBC educational programs, and there will be opportunities for our students to attend the programs free of charge. The synergies between our Coleman Center and entrepreneurship programs and the CFBC make this a very good arrangement for the College of Commerce and the council.”

Addressing common challenges

The Chicago Family Business Council has a membership of 85 companies and more than 135 members who operate in construction, printing, accounting, retail, metal fabrication, floor coverings, chemicals manufacturing and other markets. Together, members address common challenges faced by every family-owned and closely held business, regardless of the product or service it offers.

“In this age of global competition, it is critical that our local companies have the resources and experience to develop leaders to grow their businesses,” said Brian McIlwee, president of CFBC. “As a private university, DePaul offers us the opportunity to work in an environment unencumbered by state legislative mandates. Our new home at DePaul will allow us to significantly enhance our ability to serve CEOs of entrepreneurial closely held companies and family businesses alike, while we will engage DePaul’s students with our members and programs. This is truly a winning opportunity for both DePaul and the Chicago Family Business Council.”

Under an affiliation agreement with DePaul, the council will operate as a separate entity and have its own board and operations. CFBC was formed in November 2011 at the recommendation of the group’s board and the approval of its 135 members. Previously, the council was a nonprofit, self-sustaining fund within the University of Illinois at Chicago’s College of Business Administration. The council’s desire to become independent, yet remain affiliated with a major university program, spurred its change in structure and move to DePaul.

“The most important point I wish to stress is that we are not attempting to change the core of FBC,” McIlwee said. “Our mission, vision, values, programs, sponsors, officers, forums and protocols are not changing. Additionally, there is a considerable heritage and wonderful relationships that we have developed over the years at UIC. We will regret leaving them but wish to continue to maintain those relationships in the future.”

About Chicago Family Business Council

Chicago Family Business Council (CFBC) was founded in the belief that family businesses offer a challenging and fulfilling way to create a legacy for oneself and society. The CFBC offers an opportunity to business leaders of all backgrounds and interests to share experiences and proven best practices. For more information, visit www.chicagofbc.com.