Illinois Business Startup Guide

'Luck is where Preparation meets Opportunity'

First Steps
Before putting up that sign and opening for business, there is a significant amount of work you will need to do. The following paragraphs include some of the things you will need to complete before you can open your business. ... read more on first steps

Banking and Finance
What Are Your Capital Needs? One of the biggest mistakes new business owners make is that they fail to adequately fund their new business. Be sure to spend the necessary time deciding what your capital requirements are going to be. Don't forget to include at least 3 months operating expense! ... read more on banking and finance

Employees
Before you hire your first employee, there are a few things you need to do. Two very important steps involve visits to the state of Illinois websites to obtain an IBT number for Payroll and to register for Unemployment Insurance. It would probably be a good idea to find a good payroll service, this can save you time dealing with monthly / quarterly filings and allow you to focuis on your business. ... read more on employee concerns

Government Requirements
When starting a business, there is documentation that you will be required to complete. This section will outlines some of the basic filing you will have to complete. Most of this can be completed by an attorney for a fee. But you can complete most of this yourself if you are willing to put in a little leg work. Most of the federal and state documents are available through their websites. I would advise you to seek legal counsel for items that you do not completely understand. ... read more on documentation

Marketing Your Business
Every business will need to advertise, if you don't tell people you exist, how will they know? A great marketing plan is vital to the success of any business. You will probably have to do a little "trial and error" to determine the best methods of advertising for your particular business. Keep in mind that determining the best marketing methods is a continuous process, what works today may not work tomorrow. ... read more on marketing

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