Illinois is home to more than 1.4 million small businesses, employing 2.4 million people and accounting for 99.6% of all businesses in the state. They play a significant role in our state economy and workforce. However, national economic uncertainty coupled with an especially fast-changing business landscape has required small businesses to adapt, yet again.
Illinois Small Business Owner Highlight
As a kid, Bobby Price never enjoyed his visits to his neighborhood barbershop, so it makes sense that it never occurred to him to open his own barbershop until much later in life. Even though Bobby has been cutting hair since he was 13, he didn’t become a full-time barber until he became a husband and a father.
Illinois Events
There are currently no events scheduled in this area. Please check back later or register for one of our upcoming national webinars on topics like small business lending options, retirement and more.
Illinois Policy
Browse our latest state-based regulatory comments and legislative testimony in this area below, or click the button to view all records.
Thursday, July 17, 2025
On July 17, Small Business Majority Senior Fellow Geri Sanchez Aglipay sent a letter to Illinois senators urging them to support SB 1784, legislation that automates the process of sealing criminal records to help our fellow Illinoisans get back to work and strengthen communities.
Monday, May 20, 2024
On May 20, Midwest Director Tasha Brown testified infront of the Illinois House Financial Institutions and Licensensing Committee on behalf of SB 2234, which would enact critical protections for small business borrowers in Illinois that are falling prey to predatory lending practices.
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.
Illinois Research
Published:
Thu, 06/11/2026
Research by University of Texas at Austin Lyndon B. Johnson School of Public Affairs graduate students Janet Perez Shensky, John Paul, Andre Cowan and Stephanie Mora, advised by Professor Dilawar Syed, examines how the 2025 U.S. tariff regime affected small businesses in California, Georgia, Illinois and Colorado. Using trade, employment and SBA lending data, the report finds that tariffs and policy uncertainty disproportionately burden small firms, particularly in the agriculture, manufacturing and retail sectors, limiting their ability to invest, hire and grow.
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
Small businesses in Illinois are still struggling to hire and retain a ready workforce, persistent challenges in the wake of the pandemic.
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.
