Businesses often, at least initially during the start-up business phase, don’t have the revenue to hire employees or a work force. Once businesses take off, however, and begin to grow, business owners will start to need help, but often do not want to, or cannot afford to hire traditional employees to work for their business. Our Chicago business lawyers can propose a myriad of legal solutions to this employment maintenance problem.
In these situations, business owners should consider hiring independent contractors, consultants, commissioned sales representatives or even offering profit interest or equity incentives to key employees in exchange for their valuable services. These are often great solutions for certain businesses with limited budgets, and that are not yet stable enough to hire a full-time work force, but still need help in order to maintain business growth.