BizWord October 2009
From the
desk of Laura Crawford
I want to thank you for your Membership in this Chamber. I
understand that you have many choices in the organizations you support and your
membership is appreciated. Obviously, these are exceptionally difficult
economic times and it’s more important than ever to use your Chamber for one or
all of the many benefits we offer. Whether it’s marketing on the website to get
people through your doors, sending your sales team to professional development
sessions, networking to build business relationships with vendors and clients,
connecting to the Village or being updated on advocacy issues, use your Chamber!
Your Chamber
family will endure this recession by supporting each other. Right now, we’re
living with the negative trickle down effect of a few industries. This is the
telling tale of how important it is that we support all business in our
community. Like you, your Chamber has cut or reduced every possible expense
including employment and by moving to our current office, our rent. For the
third year in a row, we’re keeping the price of Membership down. We recognize
that for success, we have to help each other – this is what a chamber is all
about! We will be successful because we’ve supported each other either
by purchasing local, giving referrals or taking a pro-business stand on an issue
at the local, state of federal level.
While you’re busy
taking care of your business; your Chamber is doing its best to support
legislation that will positively impact your bottom line. We also consider
every business issue as an important one - whether it directly affects yours
or not; because as you now know, ultimately, anything that supports
business will be good for yours. This year alone we successfully fought
prevailing wage, streamline sales tax, a 7% service tax and card check.
So far this has been a
year of ‘no foul – no harm’ for business…..at last!
So check out the enclosed
referral report, visit the all new downersgrove.org to find out about the Member
Only discounts or find the letters under Legislative Impact that have been sent
to lawmakers on your behalf. The Members Only section of our website is also a
great resource, for username name and password please call our staff: (630)
968-4050. Consider attending or sending your staff to a luncheon, special
program or event, visit a referral group or give us a call to update your
Chamber Plan. And be sure to look for new programs and services. We’re
currently working on a BUY CHAMBER program and an internet based, Ask the
Expert.
We want to earn your
business! Feel free to contact me or any Chamber staff to discuss your business
needs and issues or to share your suggestions for ways we can improve our
services.
Thank you for your
Membership,
Laura
Crawford
President & CEO
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Letter from the Chairman of the Board
Thank you for electing me Chairman of the Board of the Downers
Grove Chamber of Commerce. I will work hard to further the mission of the
Chamber. You may be thinking, why is this guy who talks so funny our new
Chairperson. To explain this I thought it would be insightful if I shared some
of my personal background.
I wasn’t such a lucky guy in my younger years. I was involved
in two serious car accidents, one severing my tongue and the other leaving me
with lifelong scars that continue to remind me about adversity. These accidents
occurred after I broke my neck in a wrestling accident. I finished the match,
but after I got to the hospital, I did not get out of bed for four months, but
with a full recovery. This is an example of how I deal with adversity.
With the current economic times that we are experiencing, the
Chamber has been facing adversity. Having experienced adversity, I feel
adversity is not something to be feared but rather a problem to be solved. From
a more positive perspective, let me share with you why I think I am equipped to
help the chamber face adversity through 2010
1)
I worked in a
major corporate environment, at Northern Trust Company for 17 years (I know big
business as well as the adversity of corporate politics) I started D3 Financial
Counselors in 1997.
I know small businesses and how to survive adversity having
experienced the two worst financial markets since the great depression.
2)
I volunteer
my time regularly and have assisted numerous non profit organizations. I was
the President and Chairman of the Illinois Financial Planning Association (a
1300 member organization) and most recently served as Chairman of a community
development finance organization in Wisconsin and as the co-treasurer of the
Downers Grove North Boosters Club. I know how to
organize and prioritize, recognizing the adversity of the demands on my time..
3)
Lastly, I
believe in commitment. One of the things we have committed to is using Chamber
Members in every aspect of our business. From office supplies to legal services,
from insurance to client meals at local restaurants. From website redesign to
catering our ribbon cutting, the one requirement is that all these
providers be Chamber Members. Buy Chamber
is my moto. I hope you make it yours.
Hillary
Clinton wrote a book called “It takes a Village.” Ostensibly the title of the
book was taken from a Nigerian proverb about how it takes a community effort to
raise a child. To make Buy Chamber a success, it will take a community
effort to raise the Chamber. As Chamber Members we need to emphasize to our
friends and neighbors in our communities how important it is for all of us to
support the Member businesses of the Downers Grove Area Chamber of Commerce &
Industry.
In
summary, it will be these experiences, skills and commitment that I intend to
bring to the Chamber to help achieve our mission; which is to serve the
community as the premier business resource for you the Members, by providing and
protecting economic opportunity essential to helping you operate and grow a
successful enterprise.
Don Duncan
D3 Financial Counselors
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Legislative Alert: Money,
Money, Money
The Illinois
State Income Tax Act passed last July includes a 50% tax increase on
Partnership, LLC and LLP Income! A Member accountant reported that just for his
clients alone, it would mean a $2,000,000 increase in tax dollars. Most
of us believed an income tax increase was rejected by the Illinois legislature.
Many service businesses are discovering that simply isn't true. This tax
increase applies to all partnerships and to LLCs and LLPs that file as
partnerships, including accountants, doctors, dentists, consultants,
realtors, and all similar service businesses.
What’s
odd is that not a penny of the increased
replacement tax will benefit the state: 100% of replacement tax dollars
are distributed to municipalities statewide. The Illinois Chamber
reports that IL-SB 1912, a hidden amendment to this Act, Deep in
SB 1912 (now PA 96-0045) was amended to subject most personal service income of
partnerships, LLCs and LLPs to a brand new tax – a 1.5% Illinois
replacement income tax. The 1.5% replacement tax is in addition to the
personal income tax of 3% paid by each partner receiving his or her
distributive share of partnership income, resulting in a 50% increase in tax.
According to the IL Chamber,
what does this mean for
your organization?
§ Previously,
partnerships were allowed a replacement tax subtraction for "reasonable
compensation for personal services" paid to partners. This was to be comparable
to the deduction S Corps take for shareholder salaries. SB 1912 now limits
partnership deductions to "guaranteed payments" to partners and disallows a
deduction for all other income distributions of partnerships.
§ Example: many
firms distinguish between "equity" and "income" partners. Income partners
receive a guaranteed payment (salary) each month whether the partnership makes a
profit or not. Equity partners receive a distributive share of the partnership
profits according to their individual share of ownership. The distributable
income to equity partners is considered employment income by the federal IRS and
subject to FICA and Medicare tax as well as federal individual income tax. For
Illinois purposes, the net effect of SB 1912 will be taxing the personal service
income of equity partners twice: once at the partnership level (the 1.5%
replacement tax) and also under the 3% individual Illinois income tax, resulting
in a 50% increase in tax on personal service income!
§ SB 1912 appeared
as a floor amendment on July 15, the last day of the extended legislative
session. The change was buried more than halfway (page 156) into the huge
budget implementation bill and was represented as a technical correction. It
passed both houses of the legislature and was signed by Governor Quinn on July
15.
§ Not a penny of the
increased replacement tax will benefit the state: 100% of replacement tax
dollars are distributed to municipalities statewide. In fact, state income tax
revenues may actually decrease as a result of SB 1912 since increasing a
partnership’s tax liability will reduce profits distributed to partners and
taxed under the individual income tax.
What can you do about
this?
Click here to see who sponsored this bill
(click on their names to get their email or PO addresses) and tell them this tax
increase must be repealed. If you would like to use or refer to the letter from
the Chamber, please feel free
to click here. The Downers
Grove Area Chamber of Commerce & Industry want to engage
you to impact
change. Please join us and help us push for reforms against
damaging tax increases.
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Just in from the US Chamber: Birds Always
Sing After the Rain
Prepare for better times. During the 2000-2001
recession, my family-owned business and others collaborated to form The
List. It started out as itemized actions to trim costs, stay competitive,
and still be prepared for the next uptick. Eight years later, The List has
grown to 100. Below are a few tips by category.
General--Continuously
estimate the depth and length of the downturn in your specific markets.
Schedule meetings and time to work on key issues impacting your performance.
Family Leadership--Tap
into the wisdom and experience of senior generation leaders who have likely
experienced two or three downturns in their careers. Accelerate the range of
responsibility for the younger generation, keeping in mind that some young
people will rise to the occasion.
People--List and
quantify benefits provided to each employee. Lure your competitors' best
talent.
Financial--Meet with a
banker or bankers to discuss current arrangements and covenants and possible
changes. Improve your order-to-cash cycle by sending out invoices as soon as
possible, not waiting until the end of the week.
Purchases--Audit your
inventory and reduce slow-moving, obsolete items by having special sales,
returning them to the vendor, or disposing of them. Defer capital
expenditures. Purchase essentials and invest in select developments for new
services or products.
Manufacturing--Review
Shingo Award assessment list,
www.shingoprize.org, to achieve world-class status. Eliminate
the eight wastes of lean: overproduction, motion, inventory, waiting,
transportation, defects, underutilized people, and extra processing.
Facilities--Consolidate
plants and increase use of energy-efficient practices.
Marketing--Use the
digital world for promotions-e-mail blasts, e-commerce. Continue marketing
but adjust your approach.
Sales--Visit major
customers. Thank them for their business, learn their business outlook, and
discuss their need for your products and services. Ask how you can save them
money.
Pricing--Increase
pricing if you're in niche markets with limited competition. Implement an
environmental surcharge for trash, recycling, hazardous waste handling,
green material usage, etc.
Business development--Analyze
sales and profitability of each product offering and prune nonstrategic,
low-profit products. Seek lower-priced, fire-sale acquisition opportunities,
particularly those where the seller may provide the financing or take an
earn-out.
Administration--Increase
use of technology by moving to online ordering, tracking, and shipping.
Reduce the number of computer hardware and software license fees.
By Joe Schmeider The Family Business
Consulting Group, Inc.
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Just in from Jane
Do you have Momentum?
The Stock Market
continues to increase, a little at a time, but it is still increasing . . .
I would call that momentum!It reminds me of The Little
Engine that Could
book which has been used to teach children the value of
optimism,
hard work and momentum. Do you have the
little engine that could momentum with your business?
By definition,
momentum is the power to increase or develop at an ever-growing pace. But
is can also be defined through philosophy as an essential part of a whole.
Do you have that ever-growing pace which is part of the whole? Momentum
should be part of your recipe for success, your monthly goals and even your
weekly check list. It should not be left off the list or put on the back
burner.
What can the Chamber do
to encourage your momentum? Introduce you to other members who can help
enhance your business? Help tweak your marketing plan? Or invite you to
the next Business Roundtable Network or Ambassadors Committee meeting? You
just never know when someone or something will inspire you and rev up your
momentum!
At the most recent
Health & Wellness Network, you could see and feel the momentum growing from
one simple suggestion - create an informal referral network among the
members. Similar types of business were in attendance but with each
business specializing in different areas, so why not creative an informal
group to share ideas, referrals, services and even gift certificates. They
did not view themselves as competitors but a group that could share. The
idea may not have been unique and small in nature but the enthusiasm and
momentum from the group was BIG!
It’s more important than
ever to keep your momentum going or better yet, gain positive momentum, no
matter what life might be throwing your way. Please join me as I hop on the
momentum train and be like the little engine that could . . . keep working
hard to keep business strong! Momentum can be contagious and fun. Do you
have the momentum in your business? Are you that little train that could?
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Chamber Talk with Lauren
Member Press Page: Break through the Inbox Overload
Do you have important news about your
business? How do you get your news into the community? How do you break through
the inbox overload? The Chamber has come up with a
solution. Now you can deliver you
business' important news and updates by posting your company press releases on
the Member Press Page for free.
With the amount of daily emails that enter the average email
inbox, how do you get people to read your message? To get your important
business information out to the community simply email your press releases to
Lauren Tarasewicz at
ltarasewicz@downersgrove.org. Once your email is received it will be
uploaded to the
Member Press Page. Links to this page will be found on
the left panel of downersgrove.org
homepage as well as in the weekly BizWord e-newsletter and Member 2 Member
Promotion e-blast.
For more information or to ask questions about the
Member Press Page,
call Lauren at 630.968.4050 ex. 13 or email
ltarasewicz@downersgrove.org
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Meet the Chamber committee and
network Chairmen
 Ambassadors
Chair: John Page, Vistage International
The Chamber Ambassadors are the mentors, greeters and recruiters of the Chamber.
By reaching out to assist new and existing members, our Ambassadors become
recognized by the membership as a great resource for chamber and general
business development issues. Ultimately, people turn to those they can trust
when looking for business partners. Being an Ambassador builds great public
relations that lead to positive business partnerships and even new friendships.
 Business
Roundtable Network
Chair: Don Shewmake, Pantheos Group, LLC
Members address the issues and challenges of small and home-based businesses,
and provide education, support, and networking opportunities. This active group
meets the third Friday of each month at the Chamber office.
 Health
& Wellness Network
Chair: Francine Meyers, Saratoga Grove
The Health & Wellness Committee develops programs to encourage health and
wellness awareness. Current events include committee participation in Downtown
Downers Girl's Night Out, Farmers Market Health Screenings, and Chamber Fitness
Challenge. Future plans include committee sponsored lunch and learns.
 Legislative Impact Network
Chair: Steve Hrbek, Highland Oaks I & II
The Chamber seeks to influence legislation and regulation by local, state and
federal governments in a proactive manner, supporting legislation that benefits
businesses and when necessary, opposing legislation that unnecessarily inhibits
businesses. The Chamber will educate Members and elected officials on key
policy issues affecting business.
 Non-profit
Network
Chair: Susan Friend, S.E.A.S.P.A.R.
The Not-for-Profit Network provides professional development opportunities to
meet the unique needs of leaders of not-for-profit organizations. The Network
encourages the collaboration and sharing of ideas, activities, practices and
resources.
 Women's
Business Council
Co-chairs: Alison Clemens, Clemens Mailing Service
Diane Ahern, Advocate Good Samaritan Health & Wellness Center
The Women's Business Council advocates for the professional women of the Downers
Grove Area Chamber through education, professional development, mentoring,
resource sharing and business connection opportunities.
 Young
Professionals Network
Chair: Paul Zalduendo, Z Group Financial
The purpose of the Young Professionals Network (YPN) is to cultivate the next
generation of business and community leaders. YPN promotes personal and
professional development, through active involvement in the Chamber, business
and local communities.
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Pet Costume Contest: YPN
HOWL-o-ween Bash
Submit your PET COSTUME contest picture
by Oct. 26th.
Email
Lauren at
ltarasewicz@downersgrove.org
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Post your coupons on
downersgrove.org
It
takes community effort to make the Chamber a valuable resource for Downers
Grove. Chamber Members need to emphasize to friends and neighbors how important
it is to support the Member businesses.
Get your promotions out into
the community! Post your coupons on the downersgrove.org homepage. This is a
great benefit of Membership.
See what fellow Members are offering.
How to post your coupon:
1. Go to the "Members Only"
section of downersgrove.org
2. Log in (Don't know your
log-in information? Call the Chamber at 630.968.4050)
3. Go to the right side panel
titled "Additional Links." Click on "Post a special offer."
4. Post your coupon! It may
take a day or two to see it on the homepage!
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Members in the
News!
Congratulations to the following Members:
Corporate Strategies, A Sandler Training Center is celebrating its 15th
Anniversary.
Don
Duncan of
D3 Financial Counselors was honored with the Regional Spirit Award in the
2009 Business Ledger Entrepreneurial
Excellence Awards.
Downers Grove Reporter named state's top large nondaily paper. It earned
first place in the General Excellence category of the Illinois Press Association
editorial contest.
Ruffled Feathers Golf Club won the $1,000 marketing package drawing given by
The River 95.9 FM at the Chamber's October General Membership Luncheon!
Listen for their ads on air at 95.9 FM.
Dawn Tuskey of
IHM Remodleing Repair Contractors and Mattine Gallentine of
MG Computer have each been selected as two of the 22 recipients of the 2009
Influential Women in Business award presented by The Business Ledger and in
partnership with the National Association of Women Business Owners – Chicago
Chapter.
The Great Lakes Independent Booksellers Association presented the
Voice of the Heartland Award, recognizing "a person or company in the book
industry for a lifetime contribution to regional books," to Becky Anderson,
Anderson's Bookshops, Naperville and Downers Grove.
Money Magazine rated Downers Grove the Number 5 best place
for a healthy retirement.
Gaido and Fintzen, a full-service law firm, opened its second office at 320
Walnut St., St. Charles.
Downers Grove based
D3 Financial Counselors LLC, has been ranked a Rising Star by "CPA Wealth
Provider" magazine in its national ranking of wealth magnets.
Lisle
Alphagraphics applauds company's growth. Their success is attributed to its
acquisition assistance programs that have increased revenues and its business
centers have provided marketing solutions services to help local business boost
their results.
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Thank You Members!
The Downers Grove Area Chamber of Commerce &
Industry would like to Thank the following members for their generosity and
support:
Thank you to the following
Members who gave a wonderful presentation on “Chiropractic Care, It's Not What
You Think:" Dr. Melissa Andrews –
Korwitts Chiropractic & Dr. Kitty Yon & Dr. Tim Yon –Centre
for Chiropractic Health
Thank you to Annette Larson of
First Data Services Windy City for donating a manual credit card machine to
the Chamber.
Thank you to
ScotPress Printing for assisting with the Chamber staff’s sweatshirts.
Thank you to all of our
2009 sponsors for the Last Swing! Board of Directors Invitational golf outing:
AAA Travel,
First Data Services, Community Bank of Downers
Grove, Advocate Good Samaritan Hospital, Shane's Office Products, James F. Russ
JR., P.C., Midwestern University, First Advantage Mortgage on Thursday, October 8th.
Thank you to the
Downers Grove Golf Course for hosting the 2009
Last Swing! Board of Directors Invitational golf outing on Thursday, October
8th.
Thank you to the following outgoing Board
Members: Steve Wilkey of Downers Grove National Bank and Valerie Bruggeman of
AT&T.
Thank you to the following outing going Committee Chairman: Norb Farnaus of
Farnaus & Associates, Monte Rifkin of AAA Chicago, Donald Duncan of D3 Financial
Counselors, Todd Gallentine of MG Computer, Tom Kallay of Nicor Gas, Dawn Tuskey
of IHM Remodeling Repair Contractors and Judi Glasner of Downers Grove National
Bank.
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