Starting a Business in Illinois: The Very Basics

Starting-a-Business-in-Illinois-The-Very-BasicsIllinois is a great place to start a business. According to the State of Illinois official website, the state has abundant energy resources, including biofuels and renewable fuels, an unparalleled workforce, and key access to global industries. The state offers many incentives to building ethanol plants and for using renewable resources “derived from locally grown corn and soybeans,” and also has many counseling programs and assistance centers to help entrepreneurs just starting out. According to the Illinois Office of Trade and Investment, Illinois is the sixth largest exporting state in the nation, and “exports of manufactured goods and agricultural products from Illinois in 2010 were $50.1 billion.” These exports amounted to 632,800 jobs in the state. All of these are obvious reasons to start a business in Illinois, but before getting started there are some very important things to be addressed.

 

First, you’ll need to register your business with the Illinois Department of Professional Regulation. This is the main licensing agency for most professions, including (but not limited to) medical practitioners, real estate firms, and athletic services. The next important step, after you’ve determined what type of corporation your business will be, is to register the business name with the county clerk’s office. The Assumed Name Act requires that this registration happen in the clerk’s office in which business will be conducted, no matter the type or structure of business. If the name of business or location of business changes, the law requires that the change be registered.

 

Next come tax registrations and employee services, providing that you plan to employ people in your new endeavor. For these and the many other concerns to an entrepreneur, it’s important to hire an experienced business attorney. If you or someone you know is considering starting a business, contact a dedicated Illinois business lawyer today.

 

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