Welcome to our Hinsdale, Illinois Estate Planning and Small Business Law Blog

Can you future-proof your business?

Like most business partners, they were friends sharing a common interest. In the beginning, they made spice blends and gave them as homemade gifts to friends. After wondering if there may be a larger opportunity to sell into the retail market, they created a business plan and unique packaging. The first retail chain buyer liked the samples and placed a $10,000 order. Continuing to grow, they got past the inevitable downs that come with the ups, and 20 years later are doing well.

Small businesses are the life bread of America, but no one ever claimed that running one would be easy. Companies come and go with great frequency. For instance, in the second quarter of 2016, 8,399 establishments started up, generating 29,697 new jobs in Illinois. In the same period, 7,534 businesses exited, resulting in 25,871 jobs lost.

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