Pat Quinn on Corporations
Reduce LLC fee from $500 to $39, the lowest in the nation
Three out of every four Illinois employers are small businesses. And in the last five years, we've helped them. Through our Advantage Illinois program, we've provided loans and investments to help small businesses grow.
We should do more to support
our small businesses, especially as they get started. In Illinois, new businesses have long paid a $500 LLC fee when they open up shop. Let's reduce this fee to $39--the lowest in the nation--and provide a boost to our innovators.
This small but important step will encourage entrepreneurs to start their business and put more people to work.
And we won't stop there. Today I'm issuing an Executive Order to establish a Small Business Advocate whose sole focus will be to
examine policies and proposals through the lens of how they impact Illinois small businesses. Let's make life easier for our small businesses--and make sure small business always means big business in Illinois.
Source: 2014 State of the State speech to Illinois legislature
, Jan 29, 2014
Advantage Illinois: microloans to MWOB minority firms
Business requires capital. Four years ago, capital was hard to find as all of Illinois suffered from the Great Recession. So we invested in our small businesses, providing $23 million in federal funding to scores of companies through Advantage Illinois.
We've awarded micro-loans to hundreds of businesses, primarily to minority- and women-owned small businesses in high-need communities. In the past 4 years, we've increased the participation of minority- and women-owned firms in state contracts.
Source: 2013 State of the State speech to Illinois Legislature
, Feb 6, 2013
Page last updated: Jul 23, 2017