Illinois policymakers need to embrace small business community
Chicago is an awe-inspiring, world class city with suburbs that offer everything a business needs to thrive.
We have Lake Michigan, two airports, all forms of entertainment and the best food in America. Folks can eat and shop in quiet neighborhoods across the city and suburbs. And the heart and soul of local communities are the small and local businesses that drive our economy.
Illinois politicians should be rushing to embrace the small business community. There should be an active small business caucus in Springfield and the Chicago City Council. Policymakers should not be looking to play at the edges when it comes to supporting small businesses. They should tackle the big issues that drain the resources and dampen the spirits of local business owners.
Let’s start with low-hanging fruit: Cutting unnecessary and burdensome red tape. This is a common-sense, cost-effective way Illinois policymakers can meaningfully support the small business community. More than a tag line or campaign slogan, cutting red tape is a tangible way to improve the business climate.
Other states are taking concrete measures to reduce barriers to business growth and Illinois should follow suit. We often hear about the need for Illinois to stay competitive with other states. Reducing red tape is a proactive way to let entrepreneurs know Illinois is open for business.
Illinois should appoint a commission to quickly review the laws and regulations on the books to determine if they are antiquated, unreasonable or disproportionately impact small businesses.
This commission should publicly and transparently publish its findings, hold hearings, and make recommendations on reducing red tape. Politicians should be given a timeline to either make the recommended changes or publicly explain the reason they will not proceed in that manner. Regulations are needed to protect the public.
However, when there are less burdensome and costly ways to accomplish that, they should be embraced by politicians, regardless of special interests satisfied with the status quo.
Politicians must confront property taxes head on. When policymakers tout their accomplishments at the close of each legislative session, taking concrete steps to reduce property taxes is not included.
Smart and voluntary government consolidation is a start. Curbing huge tax breaks that go to large corporations and passing through the corresponding revenue to local communities for property tax relief is another. Property tax stabilization should take center stage during the 2027 legislative session.
Our state legislators should be laser-focused on doing everything they can to address the escalating cost of health insurance for small businesses and Illinois residents. The committees that focus on health care and insurance should be some of the busiest next year.
There are other big issues that should be addressed that will require energetic, enthusiastic leadership from our state policymakers.
Summer is always a reminder this is an incredible area full of great people and tremendous small businesses. Do not be disheartened by skeptics who want you to believe Chicagoland faces insurmountable odds. It does not.
Civic engagement can compel local politicians to lead on the big issues that will make a difference to us all.
• Elliot Richardson is president and co-founder of the Small Business Advocacy Council.