One-fifth of the U.S. gross national product is produced in the Midwest, and nearly half of all U.S. goods and services are created within a day's drive of the Illinois state line. This makes Illinois an ideal place to start a business.
Sole proprietorships, general partnerships, limited liability companies and corporations are among the many ways that you can organize your business in Illinois. Each has advantages and disadvantages, so consult with an attorney or accountant to decide which is the best for your business.
Licensing and Registration
Illinois requires most businesses to be licensed or registered with the Illinois Department of Revenue. Call the department at 800-732-8866 to find out which license or registration forms you'll need to complete for your business.
Responsibilities to Your Employees
If you plan to hire employees, you will need to make unemployment insurance contributions to the Illinois Department of Employment Security. You must also become familiar with anti-discrimination laws and rules for employee eligibility to work in the U.S.
Get Help and Free Training
Starting a business is exciting, but also nerve-wracking. You don't have to do it alone. Find training courses and free one-on-one counseling through the Illinois Entrepreneurship Network.
- Illinois outline image by Kim Jones from Fotolia.com