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Business Resources

Starting & Managing a Business

Having your own business can be both exciting and frightening. Find information and resources for starting, running, expanding, relocating, or closing a business. Click on the tabs below to get started.

idea

BizDrop Free Webinars


1st Webinar: Starting a Business

The Starting a Business Webinar is the first in a series of webinars with our industry expert Denise Ching, the Small Business Development Center Director at ICNC-Industrial Council of Nearwest Chicago. This webinar includes an overview of what you need to know to start a business, ask the right questions, and find the resources you need to be successful!

Watch the archived webinar in the Video Tab. Visit the Documents Tab for webinar materials. Quick Tip


2nd Webinar: Licensing & Registration Basics

The How to Establish a New Business: Licensing & Registration Basics is the second of a series of webinars on Starting a Business in Illinois with our industry expert Denise Ching. The webinar includes tutorials on the following topics:
  • Registering a Limited Liability Company (LLC)
  • Completing Articles of Incorporation
  • Applying for a Federal Tax ID (FEIN)
  • Registering an Assumed Name Certificate
  • Applying for State Tax ID’s (Sales, Re-Seller, Employment)
  • Applying for a City of Chicago Business License

The archived webinar is available in the Video Tab. Visit the Documents Tab for webinar materials. Quick Tip

3rd Webinar: How to Finance a Start-up

Have a great business idea, but lack the funds to do it? The How to Finance a Start-up Webinar shows small business owners how to:
  • Identify the Ways to Fund a Business
  • Define Costs and Calculate Profit Margins, and
  • Understand Financial Statements

The archived webinar is available in the Video Tab. Visit the Documents Tab for webinar materials. Quick Tip

4th Webinar: How to Create a Marketing Plan

Need more business but not sure how to get the word out? How to Create a Marketing Plan is the 4th webinar in the Starting a Business Webinar series. The webinar provides tips and tools on:

  • Definition of Marketing and Marketing Plan
  • Basic Marketing Principles & Common Terms
  • Target Marketing & Segmentation
  • Market Overview
  • Competitive Analysis
  • Marketing Strategy

The archived webinar is available in the Video Tab. Visit the Documents Tab for webinar materials.

Quick Tip

5th Webinar: Small Business Procurement

This event provided information on the basics of doing business with the public sector from a small business perspective. Participants learned how to navigate the procurement process in order to find a new market and increase current opportunities. The webinar training agenda included:

  • GETTING BID READY
  • Rita Haake, Illinois Procurement Technical Assistance Center (PTAC)
  • STREAMLINEING THE BID PROCESS
  • Representative LaShawn K. Ford (D) - 8th District Rep.
  • RULES OF THE ROAD
  • Barton Richards, The Claro Group
The archived webinar is now available in the Video Tab. Visit the Documents Tab for webinar materials. Quick Tip

BizDrop Starting and Managing a Business


Business Start Up & Management Guides

Use the tools and resources below to start and run your business successfully.
Use the SBA Start Up Assessment Tool available in Resources.
Review the business manuals in the Documents Tab as you are starting your business, writing a business plan, or revising your finanicals.

Business Start-up Ideas and Resources:
2010 Entrepreneurial Trends External link opens in a new window
FedBizOpps.Gov lists Federal Business Opportunities External link opens in a new window
Resources for Business Development in Illinois
Green Business Opportunity Ideas External link opens in a new window
Green Entrepreneurship/Business Opportunities External link opens in a new window
Cool Business Ideas External link opens in a new window
How to Test External link opens in a new window your Business Idea

Quick Tip





BizDrop Getting the Help You Need


Business Assistance and Training

Take advantage of free training and counseling services available at a location near you. Business Service Teams can help you keep your business competitive.
Business Service Teams
Illinois workNet Business Service Teams (BST) are available state wide, and have the ability to create solutions for common business needs. Click here to find a BST near you Link opens in a new window.
BSTs
SBA
The Small Business Administration (SBA) is dedicated to helping you and your small business succeed. There are a variety of online trainings which cover many business topics for you to learn. Click on the Video Tab to access the online small business training.

WBDC
Women’s Business Development Center (WBDC) provides workshops and seminars, business coaching and financial assistance to women businesses owners. Click here for more information External link opens in a new window.

Veterans Business Outreach Centers
The Veterans Business Outreach Program (VBOP) is designed to provide entrepreneurial development services for eligible veterans owning or considering starting a small business. Learn more here External link opens in a new window.

SCORE
The "Counselors to America’s Small Business” is a nonprofit association comprised of volunteer business counselors, offering free and confidential business advice through online and face-to-face mentoring. Find a SCORE office near you today External link opens in a new window.

Choosing a Business Location

Find resources and information on how to select a customer-friendly location and comply with zoning laws.

Regional Economic Snapshot
Use the Regional Economic Snapshot on Illinois workNet to explore key labor market and regional indicators across all industries. Each Regional Economic Snapshot includes a set of 5 interactive graphs. Click here to start Link opens in a new window.
LocationOne
Use the LocationOne Information System for conducting searches for available commercial and industrial sites and building locations throughout Illinois. Click here to conduct a statewide or multi-regional search for Sites External link opens in a new window or Buildings External link opens in a new window in Illinois.





Financing Your Business

Part of starting your own business involves figuring out your financials. Find government backed loans, venture capital and research grants to help you get started.
SBA has developed a number of financial programs for small businesses, all of which will be explained in this section.
Illinois Finance Authority
The Illinois Finance Authority provides expert, hands-on support to help businesses get the capital they need for growth. Click here for financing. External link opens in a new window
Check out the Tax Credits Link opens in a new windowpage for more resources and incentives.

Check out the Industry Partners and Associations under the Links Tab.

Quick Tip

Alternative Funding

There are several databases which can direct businesses to available funding opportunities.
Finding a Grant
Industry Specific Grants
Federal Business Opportunities

BizDrop Doing it Right


Register a Business Name ("Doing Business As")

The legal name of your business is required on all government forms and applications, including your application for employer tax IDs, licenses and permits. Register your business name with your state government. External link opens in a new window name tag icon
For more tips, watch the How to Establish a New Business: Licensing & Registration Basics Webinar in the Video Tab. Quick Tip

Tax Identification Number

Learn which tax identification number you'll need to obtain from the IRS and your state revenue agency.

Your Employer Identification Number EIN# is used to identify a business entity. Employers with employees, business partnerships, and corporations and other types of organizations, must obtain an EIN from the IRS. The EIN is also known as an Employer Tax ID and Form SS-4.The resources below will help you get more information about getting an EIN for your new business:
  • Guide External link opens in a new window to the Employer Identification Number
  • Apply External link opens in a new window for an EIN Online

Tax Incentive & Assistance Programs

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