Illinois Small Business Startup Package

Category:
State:
Illinois
Control #:
IL-P109-PKG
Format:
PDF; 
Word; 
Rich Text
Instant download

Description

The well-planned launch of a business is vital to future business success. This package is designed to simplify the process of starting a new small business. The forms contained in this package are valuable tools that can be used to organize and track necessary tasks, create and present a business plan to potential investors/lenders, and more.



The Small Business Startup package contains the following forms:



Sample Business Plan Template



This form provides a guideline for you to fill in with the details of your particular business so that it can be used to seek funding and other participation. Sections are included for an executive summary, company description, market analysis, organization and management, service or product line, marketing and sales, funding proposal, financial projections, and more.



Checklist for Starting Up a New Business



This form is a handy checklist for the owner of a new business to use as a helpful tool in forming a new business. The form covers the stages of background planning, initial business transactions, and initial tasks that need to be accomplished to get the business up and running smoothly.



Projected Cash Flow Statement for Small Business Startup



This is a spreadsheet in Excel format that can be used in planning to start a new small business. It is an important tool that can be used to gain advantages with the management who controls the expenses, potential sources of borrowed money, potential equity investors, and the current shareholders.



Business Plan Slide Presentation



This is a Powerpoint slide presentation that outlines a business plan, with guidelines for adding your company's information to the slides. Topics covered include mission statement, management, business concept, competition, market strategy, financial plan, goals and objectives, and more. There are 13 slides included, which can be customized to fit your needs, and new slides can be added as needed.



Business Startup Costs Spreadsheet



This form is an Excel spreadsheet that can be used to calculate startup costs for a new business. It includes itemized categories for funding and costs, and is a valuable tool to help plan the financial aspects of your new business.



Customer Invoice Template



This is an invoice in Word format that allows you to itemize the product or service by quantity, description, and price. It includes shipping information and costs, taxes, as well as sections for notes and additional information. The top portion can be customized with your company logo and address, and contains a customer number, date, invoice number, and billing and shipping addresses.



Employment Application



This form is an employment application. Education, work history, criminal record, military service, and more are covered. The form provides that applications are considered without regard to race, color, religion, or veteran status.



Stand Alone Confidentiality and Noncompetition Agreement with Employee



A confidentiality agreement and covenant not to compete are important tools to protect your business interests. This form can prevent loss of customers and profits by protecting your production formulas, processes, and methods, business and marketing plans, pricing strategies, salary structure, customer lists, contracts, intellectual property, and computer systems.



Application for Name Reservation



File this name reservation form to reserve a unique business name for your corporation and prevent trade name infringement.








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FAQ

The Illinois Small Business Set Aside Program reserves a portion of state contracts specifically for small businesses. This initiative is designed to enhance opportunities and promote economic growth among small business owners. By leveraging the Illinois Small Business Startup Package, you can gain insights into qualifying for this program and securing contracts. This program can be a valuable resource for your business expansion.

The income tax rate for small businesses in Illinois is currently 4.95% for corporations and 1.5% for pass-through entities like partnerships or LLCs. It’s crucial to stay updated on any changes, as tax rates can vary. Utilizing the Illinois Small Business Startup Package can provide insights on managing your tax obligations effectively.

General business license. "Doing business as" license or permit. Federal and state tax identification number. Sales tax permit. Zoning permit. Home occupation permit. Professional/occupational licenses. Health permits.

Checking the Company Name Availability. Acquiring a Director Identification Number (DIN) Acquiring a Digital Signature Certificate. Obtaining an Incorporation Certificate. Creating a Company Seal for official documentation. Stamping of all Company Documents. Acquiring a Permanent Account Number (PAN)

Create a LLC or Corporation. Register Your Business Name. Apply for a Federal Tax ID Number. Determine If You Need a State Tax ID Number. Obtain Business Permits and Licenses. Protect Your Business with Insurance. Open a Business Bank Account. Consult the Professionals.

Understand the marketplace and define clear KPIs. Draft a business plan. Set revenue and profitability goals. Create a human resources team. Hire the right employees. Offer benefits for staff. Implement the right tools for your growth strategy.

Determine viability. Be brutally honest. Get family behind you. Choose a business name. Register a domain name. Incorporate / figure out legal structure. Apply for an EIN. Investigate and apply for business licenses. Set up a website.

Conduct market research. Market research will tell you if there's an opportunity to turn your idea into a successful business. Write your business plan. Fund your business. Pick your business location. Choose a business structure. Choose your business name. Register your business. Get federal and state tax IDs.

Conduct market research. Market research will tell you if there's an opportunity to turn your idea into a successful business. Write your business plan. Fund your business. Pick your business location. Choose a business structure. Choose your business name. Register your business. Get federal and state tax IDs.

Articles of Incorporation or Organization. File articles of incorporation with the state's commercial-services department to start a corporate entity. Certificate of Assumed Name. Employer Identification Number. Professional Trade Licenses. Local Licenses and Permits.

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Illinois Small Business Startup Package