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Business Foundations

Starting a business is an exciting journey, but navigating the necessary steps can feel overwhelming. The Kankakee County Chamber of Commerce is here to help! Whether you’re launching a new venture or expanding an existing one, we provide valuable resources to guide you through the process. From obtaining the proper business licenses and permits to securing food certifications and finding funding opportunities, our goal is to connect you with the tools and support you need to succeed. Explore the resources below to get started on building a strong foundation for your business

 

Starting a business is exciting, but it requires careful planning and following state and local regulations.  Below is a comprehensive guide with local resources to support you at each stage of your journey.

1.Research & Planning

Before making financial commitments, conduct research to ensure your business idea is viable.

Key Steps:

  • Conduct market research to identify your target customers, competition, and industry trends.
  • Create a business plan outlining goals, marketing strategies, financial projections, and funding needs.

Local Resources:

  • Illinois Small Business Development Center (SBDC) at Kankakee Community College – Offers free business planning assistance and market research support.
  • Website: www.kcc.edu| Phone: (815) 802-8222
  • Kankakee Public Library – Provides access to market research databases and business reference materials.
  • Website: www.kankakeepubliclibrary.org| Phone: (815) 939-4564

 

2. Choose your Structure

Your legal structure affects taxes, liability, and operations. Options include:

  • Sole Proprietorship – Easy to set up, but you are personally liable for business debts.
  • LLC (Limited Liability Company) – Protects personal assets while offering flexibility.
  • Corporation (C-Corp or S-Corp) – Best for larger businesses seeking investment.

Local Resources:

  • Illinois Secretary of State – Business Services – Register your LLC or Corporation.
  • Website: www.ilsos.gov| Phone: (217) 782-6961
  • SBDC at KCC – Provides guidance on choosing the right structure for your business.

3. Register Your Business

Key Steps:

  • Choose and register a business name with the Illinois Secretary of State.
  • Obtain an EIN (Employer Identification Number) for tax purposes and hiring employees.
  • Register with the State of Illinois if forming an LLC or corporation.

Local Resources:

  • Illinois Secretary of State – Business Registration
  • Website: www.ilsos.gov
  • IRS – Apply for EIN
  • Website: www.irs.gov

4.Obtain Necessary Permits

Business licensing requirements vary by industry and location.

Key Steps:

  • Obtain a business license from the city or county.
  • Secure health and food permits if operating a restaurant, food truck, or catering business.
  • Obtain professional licenses for regulated industries such as real estate or cosmetology.

Local Resources:

 

  • Kankakee County Health Department – Issues food service permits and health inspections.
  • Website: www.kankakeehealth.org| Phone: (815) 802-9400
  • Illinois Department of Financial and Professional Regulation (IDFPR) – Issues professional licenses.
  • Website: www.idfpr.com

5. Set Up Finances & Taxes

Key Steps:

  • Open a business bank account to separate personal and business finances.
  • Set up accounting software or hire an accountant.
  • Register for state taxes if selling goods or services.

Local Resources:

  • Illinois Department of Revenue (IDOR) – Handles state sales tax and employer taxes.
  • Website: www2.illinois.gov/rev
  • Local Banks & Credit Unions – Offer business banking services.
  • Local Small Business Accountants – The Chamber can connect you with CPAs.

6. Secure Funding

Starting a business often requires capital. Consider:

  • Small business loans from banks and credit unions.
  • Grants and incentives from local and state programs.
  • Alternative funding such as investors or crowdfunding.

Local Resources:

  • Kankakee County SBDC – Helps businesses apply for loans and grants.
  • Kankakee County Economic Alliance – Provides financial resources for small businesses.
  • Website: www.kankakeecountyed.org

 

7. Set Up Operations & Marketing

Key Steps:

  • Find a business location and check zoning laws.
  • Obtain business insurance to protect against liability.
  • Develop a marketing plan and establish an online presence.

Local Resources:

  • Kankakee County Chamber of Commerce – Offers networking, business promotion, and marketing support.
  • Website: www.kankakeecountychamber.com
  • Kankakee Small Business Development Center (SBDC) – Offers marketing strategy assistance.
  • Google My Business – Free online business listing.
  • Website: www.google.com/business

8. Hire & Train Employees (If Needed)

Key Steps:

  • Comply with federal and state labor laws.
  • Obtain workers’ compensation insurance if hiring employees.
  • Develop employee policies and training programs.

Local Resources:

  • Illinois Department of Employment Security (IDES) – Provides employer guidelines.
  • Website: www.ides.illinois.gov
  • Kankakee Workforce Services – Helps with recruitment and employee training.
  • Website: www.kcc.edu/workforce

9. Launch & Grow Your Business

Once everything is in place, it’s time to open your doors!

  • Plan a grand opening event.
  • Engage with the Chamber of Commerce and other local business networks.
  • Monitor financial performance and adjust as needed.

Local Resources:

  • Kankakee County Chamber of Commerce – Offers ribbon-cutting ceremonies, networking opportunities, and marketing support.

 

  • Kankakee County Economic Alliance – Provides business growth resources.

Need More Help?

The Kankakee County Chamber of Commerce is here to support you! Contact us for personalized guidance, networking opportunities, and access to local business resources.

Website: www.kankakeecountychamber.com

Phone: (815) 351-9068

Let’s build a thriving business community together!

 

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