Startup

4 Steps to Starting a Business in Illinois

You have assessed the feasibility of your business idea and created a plan to get started. What comes next? How do you turn your idea into a legally recognized Illinois business? Here are the four things you should do first.

1. Choose an organization structure for your business.

There are several ways to organize businesses in Illinois, each with its own legal and tax implications. Your form of business determines which income tax return forms you must file. 

The most common forms of business are:

Business Startup Help

Let us say you have had an idea rattling around in your head for a few years about how to improve a basic service or product that you have used in the past. You are pretty sure you have the knowledge and skill to deliver that enhanced service or product. Now you are wondering how to go about commercializing it.

The Lean Startup

A major part of the mission of NaperLaunch is to foster business success. Our intent is to help business founders find the information they need to be successful in launching and operating a business.

We believe in a process-driven approach to make certain that important steps and issues are at least thought through and considered, if not fully executed. Over the years we have adopted some basic concepts from the best thinkers in the world of entrepreneurship. Those concepts are at the core of the startup process we try to follow.

NaperLaunch Offers New Programs, Same Great Peer Learning and One-on-One Mentoring

With the new year comes some exciting new developments at NaperLaunch. In March, we’ll debut some updates to the format, schedule, and content of our programs. These changes reflect the latest evolution of our continued efforts to serve the needs of Naperville-area entrepreneurs and small business owners. While some of our programs may look different, our commitment to meeting business owners where they are remains the same. Here’s a look at what’s new, and what won’t change, at NaperLaunch in 2020.

Learn about Expanded NaperLaunch Academy Curriculum at Open House on Jan. 7th

Have you resolved to start a business in 2020? The NaperLaunch Academy can help you achieve your goal!

The NaperLaunch Academy is a free, 17-week business curriculum designed to help entrepreneurs develop fundamental business knowledge, improve salesmanship and leadership skills and learn the “lean startup process.” Through courses on business ideation, planning, marketing and sales, support from SCORE Mentors and all of the resources available at the Naperville Public Library, we empower entrepreneurs with everything they need to be successful.

Business Pitching

Is getting in front of people and convincing them that you have a great product or service one of your favorite things to do? If so, you’re probably in the minority among entrepreneurs. The truth is, many startup entrepreneurs who have a great business idea are fearful and unprepared to pitch their business to others.

New NaperLaunch Academy Cohort Is Forming; Learn More at Open House

Past participants in the NaperLaunch Academy have reported doubling their revenue in the 12 months following graduation. Others have increased their sales and expanded their business lines. Whether you’re thinking of starting a business or looking to take your business to the next level, the Academy has a proven track record of fostering business success.

The Academy offers a focused curriculum to help entrepreneurs develop a business idea, determine its feasibility, complete a break-even analysis, and write a solid business plan, including deep financial forecasting.

Small Business Week Celebration Includes Speakers, Business Showcase, Pitch Competition Finals

For more than 50 years, National Small Business Week has recognized the critical contributions of America’s entrepreneurs and small business owners.

According to the U.S. Small Business Administration, more than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year.