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Old 11-24-2009, 12:30 AM
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Can I collect unemployment while starting up a business

Hopefully someone out there can help me. I was employed for over 20 years with the same agency (in Chicago) which has recently closed its doors. I am due to collect unemployment beginning next week and am currently looking for another job. I am a graphic designer and would like to set up my own company. Can I continue to collect unemployment while setting up a company? And which would be best. S-Corp? C-Corp? LLC? I was leaning toward LLC but I'm not sure if this is the best avenue. As it is, I can barely scrape by on the unemployment, so I would hate to lose any of it as I slowly build clients. My industry is very competitive and clients are hard to come by so I know that while I may make $1,000 here and there it will take quite a while to become a steady income. I have received such conflicting advice from friends who own businesses so I am really hoping someone here can clear this up for me. Thank you so much!



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