To help prevent and combat money laundering, tax fraud and other financial crimes, a recent bipartisan law requires many companies and small businesses to report beneficial ownership information (BOI) to the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN).
Illinois Small Business Owner Highlight
Vanessa Avalos noticed a need for bilingual education for young children in her community, and she immediately decided to execute on it. She launched Luna y Cielo, a play café and Spanish learning center to aid Latino and Hispanic mothers in raising bilingual, bicultural and biliterate children.
Illinois Events
Thursday, May 2, 2024 |
2:00pm ET
Workshop | National
Thursday, May 2, 2024 |
10:00am CT
Workshop | IL
Are you trapped in the cycle of predatory loans, struggling to break free from the financial burden they bring? You aren't alone.
Tuesday, May 28, 2024 |
2:30pm ET
Workshop | National
Since its inception more than 70 years ago, the U.S. Small Business Administration (SBA) has helped millions of small businesses across the country access the capital and resources needed to thrive and grow.
Illinois Policy
Browse our latest state-based regulatory comments and legislative testimony in this area below, or click the button to view all records.
Friday, March 1, 2024
Small Business Majority’s Illinois policy agenda outlines policies that advance and promote equitable pathways for entrepreneurship while centering small businesses as the key to a thriving and inclusive economy. The state’s 1.3 million small businesses employ 2.4 million people (about 44.1% of the private workforce), with firms without employees making up 80% of all owned businesses.
Tuesday, March 28, 2023
On March 28, Small Business Majority's Illinois Director Tasha Brown testified before the Illinois House Financial Institutions and Licensing Committee on behalf of HB 2234, legislation that would enact critical protections for small business borrowers in Illinois.
Tuesday, March 28, 2023
On March 28, Johnathon Bush, owner of Not Just Cookies provided testimony before the Illinois House Financial Institutions and Licensing Committee on HB 2234, legislation that would extend consumer protections for small business borrowers.
Friday, June 25, 2021
Small Business Majority wrote to Illinois Governor Pritzker in support of HB117, a measure that would expand Illinois Secure Choice so that employers with at least five or more employees may participate and auto-enroll their employees. This is an important step to supporting very small businesses and their employees who are unable to access traditional retirement programs, particularly those who have been impacted by the COVID-19 pandemic.
Illinois Research
Published:
Wed, 04/03/2024
While small businesses employ nearly half (46.4%) of the private workforce in the United States, many are struggling to hire and retain a ready workforce. Our poll of Colorado, Georgia, Illinois, North Carolina, Tennessee, and Texas small business owners reveals strong support for legislative solutions that would remove barriers for justice-impacted individuals by making reforms to occupational licensing and debt-based driver’s license suspensions. These politically diverse small business owners believe these measures would enable employers to tap into an underutilized workforce and open up opportunities for entrepreneurship.
Published:
Wed, 04/03/2024
Small Business Majority’s new poll of Illinois small business owners reveals strong support for legislative solutions that would remove barriers for justice-impacted individuals by making reforms to occupational licensing and debt-based driver’s license suspensions. These politically diverse small business owners believe these measures would enable employers to tap into an underutilized workforce and open up opportunities for entrepreneurship.
Published:
Wed, 01/25/2023
While small businesses employ nearly half (46.4%) of the private workforce in the United States, many are struggling to hire and retain a ready workforce. One viable solution to their persistent workforce challenges is the passing of Clean Slate policies, which seal and expunge certain criminal records and allow justice-impacted individuals to seek employment opportunities and entrepreneurship. Individual state analyses of small business responses in Georgia, Illinois, North Carolina, Ohio, Pennsylvania, and Texas found widespread support for Clean Slate policies at the state and federal level.
The Illinois Secure Choice Savings Program, signed into law January 2015, helps small businesses that struggle to offer retirement benefits to their employees and provide retirement security to the 2.5 million Illinoisans who do not have access to an employment-based retirement plan. Below is an overview of what small businesses need to know about the program.
