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Three challenges all businesses face in the modern world

Every business deals with the efforts of growing revenue and increasing profits. Most businesses have the need to hire top-quality employees, which are sometimes difficult to find, and to provide health care and other company plans.

A business owner never runs out of things to think about, and among those are the challenges related to competition, risk management and trust.

How do you choose the best form of business partnership?

Choosing the most useful type of formation for your business is one way to get the venture started off right. A partnership is actually the easiest business entity to form. This is because you don’t have to have a written agreement in order to form the partnership. You also don’t need to file any official documents to start the business. You just need two or more parties entering into the agreement and who will share in the profits of the business venture.

The fact that a partnership is the easiest form of business to enter into doesn’t mean you should jump into a partnership without carefully thinking it through. Here are some things to consider before starting your business.

Title: Senate Bill 12 - Proposed Workers' Compensation Reform

As part of the "grand compromise" between the Illinois Republicans and Democrats, the Illinois State Senate has introduced Senate Bill 12, which proposes various changes to the Illinois Workers' Compensation Act. By way of background, the State of Illinois has been without an approved budget for over a year and a half. Since 2015, Governor Rauner has refused to agree to any budget unless there were also changes to various state law, including workers' compensation. The situation is reaching crisis proportions, with the Illinois Attorney General most recently moving to suspend any further pay to any state worker. As such, Senate Bill 12 offers proposed reform to the Illinois Workers' Compensation Act to satisfy, in part, the requirements set forth by Governor Rauner to earn his agreement to approve a state budget.

How to Reduce Worker's Compensation Costs

People who run their own business are always looking for ways to minimize overhead costs; however, the costs that hurt the most are the ones that aren't prepared for. This is the category that worker's compensation costs often fall into.

The costs can fluctuate based on the track record of the business and the rates in the market. When businesses are looking to reduce their worker's compensation costs, there are a few factors that employers should keep in mind

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