Illinois Bill Signed to Assist Small Business Owners

Bill Signed to Assist Small Business OwnersGovernor Pat Quinn has signed into law a bill that creates a specialized task force to aid Illinois small business, particularly those owned by minorities. The Illinois Small Business and Workforce Development Task Force Act will provide businesses with easier access to capital funding, workforce development, and state contracting opportunities.

The law hopes to expand the state’s economy by providing more opportunities for small and minority-owned businesses across the state. Governor Quinn believes this effort is essential to ensuring the longevity and prosperity of communities across Illinois.

The Governor has been quite focused on expanding opportunities for businesses in the state ever since taking office, and recently also signed a proposal that could lower workers’ compensation costs for Illinois businesses by several million dollars.

The task force will be made up of 17 members from across Illinois representing small business, labor, and the Illinois legislature, with the Chairperson of the University Of Illinois Board Of Trustees as the chairperson. Members of the task force are scheduled to begin meeting to discuss possible issues of interest to small and minority business owners and making recommendations to the Illinois General Assembly. It is hoped that the efforts of the task force will help to expand job opportunities in the state, as well as bring in new tax revenue for state coffers by attracting more businesses to the state.

If you would like more information on how this new law could help your small business, or if you need more information on what is required when starting your own business in Illinois, contact the Gierach Law Firm today. Our experienced professionals can help you identify which path is the right one for you when getting started, and provide you with information that can help ensure your new business is successful.