Small Business Advice « The Suites Collection

Archive for the ‘Small Business Advice’ Category

Innovation

May 29, 2009

New Document Review Room at Theatre Districe Business Center

New Document Review Room at Theatre District Business Center

If you are experiencing a bit of “down time” right now, you can still find ways to save or make money. Grow your business by applying innovative strategies to develop core areas like staffing, technology and marketing. We are taking our own advice at The Suites Collection this year and are keeping busy while instituting improvements to virtually every area of our company.

42" Panasonic HDTVs are now located in each center.

Offering new technology and upgrading our facilities is an important way we demonstrate our commitment to our tenants’ work environment. 42” HDTVs, new office furniture and personalized artwork have been installed at each location. Recent renovations at Theater District Business Center include new wall paper, paint and carpet and a document review room a capacity of 36. The spacious fully furnished work space expands our ability to serve attorneys working nearby at Daley Center, State of Illinois Building, City Hall, the County Buildings and Chicago Title & Trust Center as they provide due diligence services for their clients.

Employing experienced administrative professionals has always been a core component of our business model. We recently increased the continuity of service in these crucial positions by training all staff in the unique procedures at each location. Because all employees are now able to accommodate particular services at each center, we can provide our tenants seamless support while strengthening our own internal flexibility.

Our "chicagooffices" profile on Twitter.com

Refreshing our marketing campaign this year has meant expansion into new avenues, such as social media sites like Facebook, Twitter and LinkedIn.com as well as reliable “old school” forms of advertising like installing new exterior signage on each center’s building. Whether prospects are at home or in our busy neighborhoods, we want to make sure we’re reaching those potential clients.

We all want our businesses to succeed no matter what outside factors determine. When the climate improves, we want to be ready and not need to waste time catching up. It feels good to take stock and give yourself a pat on the back after a job well done. This especially counts if the job was completed during difficult circumstances. If you’ve been working hard this year and are feeling proud, maybe it’s time to take that next step and secure an office of your own. We also encourage you to seek some well-deserved recognition by entering the contest for Entrepreneur Magazine’s “2009 Entrepreneur of the Year Award” contest. Good luck!

Posted in Conference & Meeting Facilities, Small Business Advice, Starting a Business?, Theatre District Business Center, Why Choose Shared Offices? | Leave a Comment »

Short term solutions

May 22, 2009

doorway2

Even if right now isn’t the best time to make a long term commitment, you can still position your company wisely in anticipation of future successes. We all look forward to the day that this economy settles down. Until then, you should secure short term solutions for your business. Who doesn’t want flexibility and convenience? Working with The Suites Collection business centers will get you both. We offer three great solutions to protect your business now and provide for it in the future.

Choose from the following packages to fit your needs:

Start-Up Special

Private full time office for your new enterprise or your company’s first foray into the Chicago market.
Choose from several fully furnished all priced under $1000 per month.
Telephone, voice mail and high speed internet connection included.
Professional Administrative staff on site to support you.
Offices are move-in ready so schedule a tour today and be in business tomorrow.

Flexible Office

Ideal for mobile professionals who can work anywhere but occasionally need privacy and security.
For $300 a month you receive up to 16 hours of private meeting or office space in our center.
Includes high speed internet and flexible accessibility anytime Monday to Friday, 8:30am to 5pm.
Additional onsite services include use of copier, fax and secretarial support.
Mail and delivery receipt is also available.
Takes only 24 hours to get started. Arrangements can be made via telephone, email or in person.

Corporate Identity & Virtual Office

“Locate” your business at one of our centers for $200 a month.
Perfect for the home based professional or any company desiring a Chicago presence.
You are provided with our prestigious business address, dedicated phone number and voicemail.
A receptionist will answer your calls using your business name.
24 hour voice mail access, mail receipt and building signage, if desired.
For client meetings, you can rent our conference rooms as needed.
Takes only 24 hours to get started. Arrangements can be made via telephone, email or in person.

earth

We offer flexible terms and a range of spaces to accommodate your changing priorities. Maybe you will start with a virtual office and allow your business to grow enough to require dedicated space. Or maybe life decisions take you out of town but you still want to connect with Chicago clients using our meeting spaces. The Suites Collection staff members are able to build long lasting relationships with our tenants because we support them where they are today, and then meet their needs for the future. We are rooting for your success, in the short and long term. Contact us so we can tell you more. Find out which plan works best for you today.

Posted in Conference & Meeting Facilities, Small Business Advice, Starting a Business?, Virtual Offices, Why Choose Shared Offices? | Leave a Comment »

Mitigate your risk

April 17, 2009

Every day we make choices that propel us towards a dream or keep us standing still. The path that leads us to that dream may be treacherous at times because taking risks can feel daunting. Mitigate your risks by locating your office in an executive business center to save time and money. If you have an independent start up, an established business with shifting needs or are looking for a great satellite location, The Suites Collection will provide you with extraordinary value.

In our industry, you will find business models ranging from “big box” office centers run by global conglomerates to independent operations with local owners, like us. Fifteen years ago, Lee Dickson created one of the first ever independent executive suites operations in Chicago and she continues to lead our business today. With three centers in River North and the North Loop, The Suites Collection is large enough to accommodate any office scenario you may require, but also small enough to give you personalized service and attention from our experienced staff of professionals.

If you are handling all of the day to day matters that come with running an office, this will take time away from your clients. When circumstances change and you need to adjust, being locked in to long term commitments means you won’t be able to fit the new flexible model for success in this economy. Our office centers can accommodate you as your space needs change throughout the year. If you have a consultant in for a day, one of our conference rooms can be arranged. If you schedule a working lunch hour with a client, we can handle the logistics for your meeting.

Limiting your risks is a cornerstone of our business. Our office environments are friendly and flexible and your arrangements with us can be as fluid as you need them to be. Achieve your dreams without having to take a big leap. Now is the right time! Contact us for a tour of any of our offices. We will start working for you today.

For more information on mitigating your risk read our other blogs on:

What type of office space will fit your needs?

Workplace Flexibility

Shared Office Savings

Shared Office Networking

Shared Office: Legality

Posted in Small Business Advice, Starting a Business?, Virtual Offices, Why Choose Shared Offices? | Leave a Comment »

Opportunities

March 13, 2009

“I always tried to turn every disaster into an opportunity.” – John D. Rockefeller

Sometimes we need a push to point ourselves in a new direction. The current economic climate is certainly giving us a big push right now! While the financial crisis worsens, it’s easy to feel a loss of confidence and control. But what we decide to do in the face of adversity and how we respond to perceived failures are actions that we actually do control. When you find yourself surrounded by change and uncertainty, take time to listen to your instincts and follow your dreams. Who better to invest in than yourself? If starting your own business is something you’ve always wanted to do, The Suites Collection can help you find a place to make that dream come true.

If you need a basic set up for your new business entity – our virtual office program provides you with a prestigious address in the Loop or River North and a professional receptionist to answer your calls. Our flexible office program allows you part time use of a private office for meeting preparation or to connect with clients when you are between downtown appointments. If you need full time dedicated space, a private office in any of our 3 convenient business centers can be arranged with furnishings, telephone and high speed internet service included. To help you hit the ground running, our centers are equipped with additional services including use of copier, fax and secretarial support.

Our staff is constantly researching and reporting on trends we think will benefit our tenants. Read more of our blog to find out about the small business incentives in the current stimulus plan, tax advice and recommendations for ways you can save on everything – from insurance to marketing to technology. We are here to help your business grow and we look forward to meeting you and listening to your ideas. Find out more about us by calling us at 312-994-2700 or schedule a tour today.

“What seems to us as bitter trials are often blessings in disguise” – Oscar Wilde

Posted in Court House Executive Offices, Small Business Advice, Starting a Business?, Theatre District Business Center, Tree Studios, Why Choose Shared Offices? | Leave a Comment »

The American Recovery and Reinvestment Plan

February 3, 2009

congress

The American Recovery and Reinvestment Plan has now passed through the US House of Representatives and will likely be passed by the Senate in the coming days. Though certain sections of the plan may change, several of the current initiatives boast programs and incentives that can benefit small business owners. Find out now which programs you will qualify for and what you can do to take advantage of them.

Are you in need of new equipment for your business? Early last year, the 2008 stimulus bill increased maximum Section 179 expenses to $250,000 but this expired in December 2008. If you made such investments last year, be sure to remember them when you send your year end information to your tax professional. The good news is that the American Recovery and Reinvestment Plan will continue that threshold through the end of 2009 giving you several more months to make purchases that can increase your efficiency and productivity.

The number of loans guaranteed under the Small Business Association’s loan program are down 57%. The upcoming recovery plan includes $430 million dollars for new direct lending as well as loan guarantees making loans to business owners more attractive to lenders. In addition to freeing up capital for loans, an elimination of capital gains taxes on investments made in small and start-up businesses will reduce the tax burden.

Other highlights of the economic recovery program include:

$90 billion to modernize roads, bridges, transit systems and waterways;
$79 billion in state fiscal relief to prevent cutbacks in key services;
$54 billion for renewable energy/green jobs;
$39 billion to help jobless workers obtain or continue health care coverage;
$16 billion for science and technology investments, including expanded broadband access.

How will you make the most of the opportunities this plan will create for small businesses? Read the text of the current proposals and be prepared for the ways you and your company can participate in the recovery. Also check out the SBA website where they offer information on the programs that help you position your business to take advantage of contract openings throughout the Federal and State Governments.

Posted in Small Business Advice, Starting a Business? | Leave a Comment »

Tax Time

January 23, 2009

Business tax deadlines are quickly approaching – 1099′s and W-2′s must be in by the end of January and corporate taxes must be filed by March 15th. It’s tempting to wait until the last minute to prepare your filings, but it’s best to get started right now. There are so many details to take care of and you don’t want to be swamped with last minute questions or surprises. Delays can increase the likelihood of errors and may even result in overpayment! Do you know how you are going to file this year? Get started by gathering and organizing all your receipts from 2008. Then choose from among the various options for tax filing and support offered to small business owners.

If you plan to file on your own behalf, you’ll need to select the correct IRS forms for your business situation. You may also want to conduct some preliminary research. Attend a low cost informational session at SCORE, the nationwide small business counseling organization. The Chicago area SCORE has upcoming workshops on Accounting & Taxes, held Feb 12 and Mar 12 from 8:45 – 12:30pm, at 500 West Madison Street, Suite 1250. This workshop covers the basics of federal, state and local taxes. Cost is $40 prepaid and $50 at the door. Call 312-353-4540 or email workshops@scorechicago.org for more information.

If you think you want to rely on a professional to file your taxes this year, consider hiring an accountant or tax preparer. Get a recommendation for a reputable consultant through a trusted business associate or use a free accountant search engine. Once you’ve vetted and selected your consultant, go through your receipts and carefully consider your deductions. If you deduct vehicle usage, keep your total and business miles as well as actual expenses for repairs and gas. You’ll want to give the information to your accountant as early as possible and provide them with a comprehensive explanation of your purchases and charitable donations. Send all your business tax information to your accountant in the same package (corporate receipts, income statements and totals, employee salary and benefit information, sales tax, dividend and interest statements, etc.). This will enable them to prepare your return as quickly and accurately as possible – which will mean more savings for you!

It’s not easy to take time off from making money each year to give it away. Unfortunately taxes are an inescapable part of being in business. There can always be improvements to the system, however, so if this season inspires you to strive for change, check out The National Federation of Independent Business. The NFIP is a nonprofit, nonpartisan organization founded in 1943 which lobbies in Washington and all 50 state capitals for members’ rights to own, operate and grow independent businesses in the United States of America.

Posted in Small Business Advice | Leave a Comment »

You could all use a good deal right now!

January 16, 2009

You can’t stop running your business just because the economy is sluggish. Maintaining productivity with fewer resources requires ingenuity and tenacity. Be sure to keep an eye out for any areas where you can save. Here at The Suites Collection we are always searching for good deals that will benefit our bottom line while preserving the quality of services our tenants enjoy.

Here are some of the good small businesses deals we’ve recently discovered.

January is a great time to make sure you are getting competitive rates for your business, health and auto insurance. Search for free rate quotes and details about insurance packages at Insweb. Unicare of Illinois and ehealthinsurance.com also offer options for your comparative health insurance shopping. All of these sites work with several leading insurance providers to tailor plans for you.

A little free advice is always good. Staff members from the IL Office of the U.S. Small Business Administration now offer a live TV talk show on local channel 21. “Small Business Update” showcases a variety of local professionals providing training on various topics important to small businesses such as SBA loans programs, government contracting opportunities, start up concerns and taxes. Viewers are invited to call (312) 738-1060 to get specific answers to matters affecting them. Upcoming shows will air on Thursdays at 4pm through the end of March.

Technology always takes a big bite from a small business budget. Claiming to be the “Best Source of Tech Deals”, XPBargains lists current rebates and sales for computer equipment from Dell, HP, CompUSA and more. A valuable way to acquire skilled technical support is bartering. The New York Times recently ran an article detailing small business success in the rising bartering trade. Websites like The ITex Corporation and U-Exchange set up national networks to put you in touch with other business owners. If you are unfamiliar with how bartering works, you can learn more about it before diving in.

Always look for ways to strengthen your marketing and minimize your overhead. Craigslist has become an undisputed advertising powerhouse, serving more than fifty million people each month. Advertising is free on Craigslist and you can drive international traffic to your website or to an anonymous email address, whichever you prefer. If your overhead costs include dedicated office space, consider moving your headquarters to an office business center like The Suites Collection. We will provide you with a private office space and shared services that will significantly reduce your administrative and operating costs.

We look forward to meeting you and sharing more mutually successful business ideas.

Give us a call at 312-994-2700 or contact us online.

Posted in Small Business Advice, Starting a Business? | Leave a Comment »

Shared Office Spotlight: The comfort and convenience of Court House Executive Offices

January 9, 2009

Court House Executive Offices Building

Situated in Chicago’s lively River North neighborhood, Court House Executive Offices will provide you with essentials for success in today’s market – flexibility, efficiency and affordability. With a wide range of private offices to choose from, you will find one that perfectly suits your needs. All offices come furnished and delivered with telephone and high speed internet in place.

Court House Executive Offices is a “shared office” environment which means you will share certain common areas with other business owners and entrepreneurs. The copy center, mail room and kitchen are all common areas designed for convenience and productivity. You will have access to your own private office 24/7 and you can host your meetings in one of our professional conference rooms, which comfortably seat anywhere from 2 to 12 people.

Art Deco Entrance

Conference Room

Reception Area

With plenty of nearby parking, the convenient location at the corner of Grand and Clark Street is right above the original Maggiano’s Little Italy. It’s easy to grab lunch at the Potbelly’s next door, entertain guests at Rick Bayless’ award winning Topolabampo on Clark or have pizza at La Madia on Grand.

Whether you are looking for a full time private office or a convenient place to conduct an upcoming meeting, we will accommodate your individual tastes and preferences. Find out more about our celebrated office environment call us at 312-994-2700 or schedule a tour today!

Posted in Chicago, Conference & Meeting Facilities, Court House Executive Offices, Small Business Advice, Starting a Business?, Why Choose Shared Offices? | Leave a Comment »

Small business tax incentives

December 22, 2008

taxes

You still have a few days to reap all the 2008 small business tax incentives that are available to you.

The IRS allows you to deduct “ordinary, necessary, and reasonable” expenses that help you earn business income. This includes appropriate business expenses like computers, copiers or client entertainment. Some items that aren’t tax deductible are traffic tickets, a home telephone line and clothing you wear to work. For more information, see SCORE’S Top 10 Tax Tips for Small and Growing Businesses.

The Economic Stimulus Act of 2008 allows businesses to take an immediate write-off of up to $250,000 for equipment purchased this year, double the amount allowed in 2007. Businesses that place those assets in service this year are entitled to an additional 50 percent depreciation. Make sure to keep your receipts and canceled checks for your business expenses and keep them organized and in a safe place. Small businesses are about three times more likely to be audited than individuals and the burden will be on you to substantiate your deductions.

Hold on to records for expenditures in the following categories:

auto expenses
office and equipment rental
utilities
advertising
travel
meals and entertainment
professional fees

You may deduct only 50% of expenses for entertaining clients for business purposes. Qualified business entertainment includes taking a client to a sporting event, a concert, dinner at a restaurant or even hosting a Sunday barbecue at your home. So, keep a guest list and note the business (or potential) relationship of each person entertained. Parties, picnics and other social events that you host for your employees and their families are 100% deductible.

Everyone’s business situation is unique. To find what deductions will apply to you, research the current tax code or consult a small business tax professional to make sure you are following the law. Next year, consider hiring a bookkeeper to handle your day-to-day accounting, if you haven’t already, to make sure you remain on the right track.

Some of these tax incentives may not be around in 2009, so if you’ve the need for new office equipment or can take advantage of any of the other categories, go ahead buy your business a present before Dec. 31!

Information contained on this website consists of suggestions only. We strongly recommend that you consult a tax professional as you make any decisions regarding tax filing or expenditures.

Posted in Small Business Advice | Leave a Comment »

Don’t let the forecast slow your business down

November 21, 2008

With the gloomy economy threatening to stretch into 2009, business owners are shifting gears. Decisions are being put on hold, spending reduced, hiring frozen. But, what if you are in the midst of starting your own business? If you’ve moved beyond the dreaming and the planning stages, you may not want to restrain that momentum. Luckily, achieving success in a slow economy is possible if you remain attuned to the unique dynamics of the market and adjust your plans accordingly. Finding additional funding as well as ways to reduce spending in non-essential areas will help you succeed.

The first thing you should do is revisit your business plan. Make sure your financial projections are realistic considering the stringent credit market and increased competition for venture capital. It’s best to assume you are going to need more money than you previously thought, because customers may take longer to attract. Experts estimate you will need 2-3 times the amount of money to fund your start-up in this economy. All avenues should be pursued in depth including equity, debt and government financing.

Certain long term goals may need to be modified into short term solutions that keep overhead costs down. Consider using freelancers instead of hiring full time employees. Allow yourself flexibility for the future by not locking yourself into long term contracts. The Suites Collection has shared furnished offices that can accommodate your needs for dedicated or flexible space. Included services such as internet connections, telephones, faxes and copiers mean you won’t have to outlay cash for equipment or enter into service agreements with support technicians.

Strengthening professional relationships will bring significant benefits at this time and won’t cost a dime. Touch base with your peers and customers to find out how they are doing and listen to their experiences. This social initiation demonstrates confidence and signifies your potential. Instead of hiring a business consultant, reach out to a mentor or an experienced professional in your field. This is a way to get a little free advice or maybe to learn from another’s mistakes. SCORE offers free career counseling for start ups and small businesses from experienced entrepreneurs and seasoned executives.

Sometimes you have to roll with the punches. It’s good to practice patience and optimism and trust that eventual success is in your hands.

“Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover and to continue to grow. Flexible and efficient markets for labor and capital, an entrepreneurial tradition and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency.”

- Ben Bernanke, US Federal Reserve Chairman

Posted in Small Business Advice, Starting a Business?, Why Choose Shared Offices? | Leave a Comment »

The Suites Collection

Archive for the ‘Small Business Advice’ Category

Innovation

Short term solutions

Mitigate your risk

Opportunities

The American Recovery and Reinvestment Plan

Tax Time

You could all use a good deal right now!

Shared Office Spotlight: The comfort and convenience of Court House Executive Offices

Small business tax incentives

Don’t let the forecast slow your business down

About Us

Blogroll

Recent Posts

Categories

Archives

Meta