What Constitutes A Small Business?

Experienced Small-Business Attorneys Serving Clients In DuPage County For More Than 50 Years

Independent contractor. House painter. Dog walker. Thanks to the U.S. Small Business Administration (SBA), each one of these people could legally be classified as a small business. And small businesses are entitled to certain benefits for which individual workers may not qualify. At Lynch Law Offices, our small-business attorneys help you discover the many benefits of being classified as a small business. We also assist small businesses on the verge of collapse by providing them the option of filing for business bankruptcy.

Small Business Basics

How do you know if you qualify as a small business? The SBA offers guidelines that outline the definition of a small business. For most industries, the SBA defines a small business in terms of either the average number of employees over the past 12 months or the average annual receipts over the past three years. It also considers such factors as whether the business:

  • Is organized for profit
  • Operates primarily within the United States or makes a significant contribution to the U.S. economy through payment of taxes or use of American products, materials or labor
  • Is independently owned and operated
  • Is not dominant in its field on a national basis

Speaking with one of our qualified small business attorneys in Aurora may help answer any questions you have about the status of your business. At the Lynch Law Offices, we assist our small business clients in making the best financial and legal decisions for themselves.

Help For Financial Trouble From Aurora Small-Business Attorneys

If your small business has run into trouble, declaring bankruptcy may help you avoid incurring costly expenses in your personal accounts. The Lynch Law Offices helps our clients make sound decisions about their business options by:

  • Noting the signs. Many small-business owners don't recognize the signs of financial danger, because their personal finances are tied up within the business. Our attorneys can help you flesh out the basic problems your company is having by separating them from your own personal debts.
  • Creating a system. Once you're able to recognize the warning signs, you might consider acting quickly to get your business back in the black. Our skilled attorneys provide sound legal advice to help you craft a better business model going forward.
  • Discussing your options. If your business is on the verge of falling apart, it's important to analyze what your options are for saving as much of the business — and your money — as you can. We help clients decide which route to take for the best possible outcome.

Small-business owners have options that may not be available to private individuals. We explore those options with you to see which ones you qualify for and which ones will best protect you and your business.

Explore Your Options With Experienced Small-Business Attorneys In DuPage County

To find out if your company qualifies as a small business, contact us at 630-761-5274.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.