The legal incorporation process is important for small businesses because incorporation allows business owners to separate their personal assets and liabilities from those of their businesses. Additionally, business incorporation can help a business owner establish more credibility in the public’s eye as a business. The business itself will also be able to establish its own credit rating, providing the business with more access to loans and other investments.
Before taking the steps to incorporate, small business owners should evaluate and understand the best legal entity for their specific business and the legal and financial implications of forming one legal entity over another.
The workshop will cover what it means to “incorporate” a business in Illinois. The information
will include an explanation of the pros and cons of incorporation versus sole proprietorship, legal entity options, and the process to incorporate a business in Illinois. The webinar will help inform aspiring Illinois entrepreneurs and existing Illinois business owners of their legal options as they consider creating an Illinois legal entity for their business.
Workshop Objectives:
1. Learn the benefits of forming an Illinois legal entity
2. Learn your Illinois legal entity options
3. Learn the process to incorporate a business in Illinois
4. Learn your annual obligations for different Illinois legal entities