​Chicago Businesses Are Growing—But the Ones That Win Will Be Disciplined

There’s a shift happening.
Despite rising costs and ongoing uncertainty, many Chicago-area small and mid-sized businesses are still growing. The difference isn’t luck—it’s how they’re operating.
Growth right now is coming from businesses that are more intentional, more disciplined, and more willing to adapt.
Here’s what that looks like.

Growth Is Being Driven by Smarter Use of Technology
Many businesses are investing in tools that reduce manual work—things like scheduling, invoicing, customer management, and inventory tracking.
This isn’t about chasing trends. It’s about efficiency.
What to do:

• Identify repetitive tasks that consume time
• Invest in tools that reduce friction in those areas
• Use the time saved for higher-value work (sales, relationships, strategy)

Technology should create capacity—not complexity.

Local Engagement Is Still a Competitive Advantage
Businesses that are tied into their communities are seeing stronger results—especially those actively involved in local events, partnerships, and visibility efforts.
This is where networking and business development overlap.
What to do:

• Be intentional about which events you participate in
• Use them to build relationships—not just exposure
• Align your presence with your ideal customers and referral partners

The right room still matters. Being in the wrong one consistently is a hidden cost.

Cash Flow Is the Real Pressure Point
Even growing businesses are feeling strain.
Inflation, interest rates, and supply chain pressures are forcing owners to pay closer attention to cash flow—not just revenue.
What to do:

• Monitor cash flow projections regularly
• Adjust pricing where necessary
• Review expenses and sourcing options
• Maintain liquidity to handle short-term pressure

Revenue growth without cash control creates risk.

Financing and Planning Can’t Be Ignored
Many business owners are planning to seek financing—but fewer have a clear strategy around it.
At the same time, long-term planning—especially succession—is often delayed.
What to do:

• Understand your financing options before you need them
• Align borrowing decisions with growth strategy
• Start thinking about succession earlier than you think you should
• Work with advisors who can guide both short- and long-term decisions

Planning is what turns growth into something sustainable.

The Bigger Takeaway
Businesses that are growing right now are doing a few things consistently:

• Investing in efficiency
• Being intentional about where they show up
• Managing cash flow closely
• Planning ahead—not reacting late

That combination creates stability—even in uncertain conditions.
​
At GLM, we help business owners connect these pieces:

• Clear financial visibility
• Strategic decision-making
• Practical execution

Because growth isn’t just about doing more—it’s about doing the right things, consistently.

There’s opportunity right now. The question is whether your business is structured to take advantage of it.

Six Tax Questions to Start Asking Now—Not Next April

Once tax season ends, most people are happy to stop thinking about taxes. But waiting until next spring to revisit the topic can be an expensive mistake.

Good tax planning isn't something you do once a year. The best opportunities often happen throughout the year, when you still have time to make adjustments. Whether you're a business owner, professional, or retiree, asking a few simple questions now can improve your financial picture later.

1. Am I Simply Repeating Last Year's Strategy?
Tax laws change. Income changes. Markets change. Your life changes.
What worked last year may not be the best approach this year.
Consider reviewing:

• Vehicle expenses and mileage methods
• Standard deduction versus itemizing
• Charitable giving strategies
• Retirement contribution options
• Investment gains and losses

Instead of assuming "same as last year," ask:
"What approach produces the best outcome for my current situation?"

2. What Decisions Am I Making Throughout the Year?
By the time you prepare your return, many important decisions have already been made.
Tax planning is really year-round planning.
Examples include:

• Retirement contributions
• Roth IRA versus Traditional IRA decisions
• Investment sales
• Bonus and withholding choices
• Timing of income and deductions
• Charitable contributions

The question isn't just:
"What will reduce taxes?"
It's:
"What decisions today will improve my after-tax results over time?"

3. Am I Celebrating a Refund That Could Have Been Working for Me?
Many people see a large tax refund as a victory.
In reality, a refund often means you paid too much during the year and allowed the government to hold that money interest-free.
Those dollars could have been used for:

• Paying down debt
• Building savings
• Investing
• Growing your business
• Improving cash flow

The goal isn't necessarily a big refund.
The goal is an efficient tax plan.

4. Am I Letting Taxes Drive My Decisions?
Nobody enjoys paying taxes. But tax savings alone shouldn't determine major financial decisions.
For example:
Spending $1,000 to save $300 in taxes still leaves you $700 poorer.
Tax considerations should support sound financial decisions—not replace them.
Ask yourself:
"Does this decision make sense even without the tax benefit?"

5. Am I Trying to Do Too Much Myself?
Technology has made tax software easier to use, but taxes themselves have become more complex.
Areas that often require planning include:

• Capital gains and losses
• Multi-account investments
• Timing income across tax years
• Coordinating deductions and credits
• Business expenses
• Retirement strategies

Missing opportunities—or making mistakes—can cost far more than professional advice.
Sometimes the right question isn't:
"Can I do this myself?"
But:
"Who should help me think through this?"

6. Am I Focusing on Taxes—or Wealth?
The ultimate purpose of tax planning isn't simply paying less tax this year.
It's building greater after-tax wealth over time.
That means:

• Looking beyond a single tax return.
• Making decisions with long-term goals in mind.
• Integrating taxes into your overall financial strategy.
• Challenging assumptions.
• Focusing on outcomes, not just transactions.

A simple change in perspective can make a big difference.
Instead of asking:
"How do I pay less tax?"
Ask:
"How do I keep more of what I earn and use it wisely?"

The Bottom Line
Tax planning isn't an April activity.
It's a year-round process.
The best tax opportunities usually don't appear when you're signing your return. They appear throughout the year, when you still have time to act.
And sometimes the most valuable question you can ask isn't,
​ "What do I owe?"
It's:
"What should I be doing now?"

I am honored to share that GLM Accounting has been recognized as the Village of Schaumburg's Business of the Month for June.

The recognition was presented during a dinner hosted by the Village of Schaumburg's Business Development Commission, a group dedicated to supporting and recognizing businesses that contribute to the economic vitality of the community. Each month, the commission highlights a local business as part of its business retention and recognition efforts.

I had the privilege of attending the event alongside Megan Wieszchowski and Carrie Hale from the GLM team, along with Mayor Tom Dailly and other business leaders from across Schaumburg.
While it is always nice to receive recognition, this award is really a reflection of the work our entire team does every day.

For years, GLM Accounting has been committed to helping business owners understand their numbers, make better decisions, and build stronger companies. Whether it is bookkeeping, tax planning, financial reporting, or business consulting, our goal has always been to provide practical guidance that helps our clients succeed.

What makes this recognition especially meaningful is that it comes from the community we serve.
Schaumburg is one of the strongest business communities in Illinois, home to thousands of businesses and a vibrant network of organizations dedicated to supporting economic growth. The Village, the Schaumburg Business Association, local nonprofits, and countless business leaders work together to create an environment where businesses can thrive.

Many people know me through my involvement in the community. I spend a great deal of time working with chambers, Rotary, networking organizations, and local business groups. Those opportunities allow me to represent GLM throughout the area, but they are only possible because I know our clients are receiving outstanding service from our team.

Simply put, I can be active in the community because the people at GLM consistently deliver exceptional work.

Since 2015, I have written a weekly business blog focused on helping business owners navigate challenges and opportunities. That same spirit of education, guidance, and service is at the heart of everything we do at GLM.

Today, we have the privilege of serving hundreds of businesses and individuals throughout the region. We never take that trust for granted.

The award itself will be proudly displayed in our office, and GLM will also be featured in Village of Schaumburg communications, local newsletters, and social media. We are grateful for the opportunity to share our story and celebrate the people who make it possible.

Thank you to the Village of Schaumburg, the Business Development Commission, Mayor Dailly, our clients, referral partners, and most importantly, the GLM team.

This recognition belongs to all of you.

Celebrating Excellence: Carrie Hale Named One of Insightful Accountant's 2026 Top U.S. Tax Advisors

At GLM, we believe that great accounting goes beyond numbers. It’s about helping business owners make better decisions, navigate challenges, and build stronger futures.

That’s why we’re proud to share some exciting news.

Our own Carrie Hale has been recognized by Insightful Accountant as one of the 2026 Top U.S. Tax Advisors in the nation.

This prestigious award highlights tax professionals who demonstrate exceptional expertise, leadership, and commitment to serving their clients. Carrie’s inclusion among this distinguished group is a testament to the knowledge, dedication, and care she brings to her work every day.

Anyone who has worked with Carrie knows that she approaches every client relationship with a genuine desire to help. Whether she is guiding a business owner through tax planning, helping clients understand the impact of financial decisions, or navigating complex tax situations, Carrie combines technical expertise with a practical, client-focused approach.

Her recognition reflects not only her individual accomplishments but also the values we strive to uphold at GLM:

• Providing proactive guidance, not just compliance
• Helping clients make informed business decisions
• Delivering exceptional service and responsiveness
• Building long-term relationships based on trust

As businesses face an increasingly complex financial and tax environment, professionals like Carrie play a critical role in helping clients stay compliant, minimize risk, and identify opportunities for growth.
We are honored to have Carrie as part of the GLM team and grateful for the positive impact she continues to make on our clients and our organization.

Please join us in congratulating Carrie Hale on this well-deserved recognition as one of Insightful Accountant’s 2026 Top U.S. Tax Advisors.

Congratulations, Carrie! We are incredibly proud of you and this outstanding achievement.
​
#GLMAccounting #TaxAdvisor #AccountingExcellence #BusinessAdvisory #TaxPlanning #TopUSTaxAdvisor #InsightfulAccountant #TeamGLM

​Stronger Businesses Build Stronger Communities—But It Starts With the Right Foundation
Small businesses don’t just operate in a community—they shape it.
They create jobs, support local causes, and bring character to the neighborhoods they serve. But beyond that, they act as connection points. They’re where relationships form, trust is built, and local economies grow.
The reality is simple: when small businesses succeed, communities become stronger.
But that success doesn’t happen by accident.

Community Impact Starts With Business Stability
It’s easy to focus on the external impact—jobs created, dollars spent locally, partnerships formed.
But none of that is sustainable without a strong internal foundation.
What to focus on:

• Consistent cash flow management
• Access to capital when needed
• Clear financial visibility
• Strategic reinvestment into the business

Growth and community impact are outcomes. Financial discipline is what makes them possible.

Financial Infrastructure Is Often the Missing Piece
Many business owners are strong operators—they know their service, their customers, and their market.
Where things break down is behind the scenes.
Without solid financial systems:

• Growth becomes unpredictable
• Decisions feel reactive instead of strategic
• Opportunities are harder to evaluate

What to do:

• Move from basic bookkeeping to decision-focused financial reporting
• Use your numbers to guide timing (hiring, expansion, investment)
• Build relationships with advisors who understand your business

This isn’t about complexity. It’s about clarity.

The Right Partnerships Make a Difference
No business grows in isolation.
The strongest businesses tend to have strong local relationships—banks, advisors, service providers—who understand their goals and help them move forward.
But not all partnerships are equal.
Look for partners who:

• Take time to understand your business, not just your numbers
• Offer guidance based on your stage of growth
• Help you think ahead, not just react

The right partner doesn’t just solve problems—they help you avoid them.

Growth Requires Alignment—Not Just Effort
As businesses grow, complexity increases.
More customers. More employees. More decisions.
Without alignment between operations, finances, and strategy, growth can create strain instead of opportunity.
What to do:

• Align financial planning with business goals
• Make sure your team understands priorities
• Build systems that scale with you—not ones you outgrow quickly

Growth should feel controlled, not chaotic.

The Bigger Takeaway
​Small businesses are essential to strong communities—but strong businesses require structure.
That structure comes from:

• Financial clarity
• Strategic decision-making
• The right support system

At GLM, we work with business owners to strengthen that foundation—so growth is sustainable, decisions are informed, and the business can support both the owner and the community it serves.

Communities don’t grow by chance. They grow because businesses within them are built to last.

Chicago Small Businesses Are Facing Pressure—Here’s How to Respond Strategically
Small businesses in the Chicago area are no strangers to challenges. But this year, the pressure is coming from multiple directions at once—rising costs, staffing difficulties, and the need to manage growth more intentionally.
While none of these issues are new, the intensity and overlap are forcing business owners to be more disciplined in how they operate.
Here’s what we’re seeing—and how to respond.

Rising Costs Are Squeezing Margins
From insurance premiums and rent to labor and supplies, costs continue to climb. For many business owners, profitability is being compressed even when revenue remains steady.
This isn’t a temporary fluctuation—it’s a structural shift.
What to do:

• Review financial statements monthly—not just annually
• Break down expenses into categories to identify trends
• Re-shop major vendors (insurance, payroll, technology, etc.)
• Look at long-term cost-saving opportunities, especially through technology

There’s no single fix here. The advantage comes from consistent review and small adjustments that compound over time.

Hiring and Retention Remain a Challenge
Even with signs of a softer labor market, many business owners are still struggling to find and keep reliable employees.
The issue isn’t just hiring—it’s retention and consistency.
What to do:

• Start with your current team—retention is more efficient than hiring
• Build referral pipelines through employees and trusted contacts
• Re-evaluate benefits beyond salary (flexibility, healthcare, retirement options)
• Set clear expectations and create a stable work environment

Your best hires often come from people already connected to your business.

Growth Requires Structure—Not Just Demand
Some businesses are experiencing strong growth, but that brings its own challenges. More demand doesn’t automatically mean more success—it often exposes gaps in systems, staffing, and processes.
What to do:

• Ensure your team is trained and aligned before scaling further
• Standardize processes so quality doesn’t drop as volume increases
• Monitor cash flow closely—growth can strain it quickly
• Be selective about opportunities—growth should be intentional, not reactive

Growth without structure leads to stress. Growth with structure leads to stability.

The Bigger Takeaway
Most business owners are dealing with all three of these challenges at the same time:

• Higher costs
• Hiring pressure
• Growth demands

That combination requires more than effort—it requires awareness and strategy.

At GLM, we work with business owners to:

• Understand their numbers clearly
• Identify opportunities to improve profitability
• Create systems that support sustainable growth

You don’t need to solve everything at once. But you do need a clear view of what’s happening—and a plan to respond.