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Procurement: Illinois State agencies and universities are encouraged to spend at least 3% of their procurement budgets with certified Veteran-owned businesses. Certified businesses are those that have annual gross sales of less than $75 million and are 51% owned by one or more eligible veterans living in Illinois.

 Illinois SB1270 requires that the state set aside 5% of total expenditures for contracts to SDVOBs and establishes guidelines for businesses fraudulently obtaining or retaining certification of Veteran owned status and suspends bidding for 2 years if a veteran business owner commits class 2 felonies.

 Mission: Veterans 2 Entrepreneurs (MV2E) is an Illinois Department of Veterans Affairs led initiative to help Illinois Veterans in small business. MV2E wants to help Veterans register their businesses as “Veteran-owned” for the sake of bidding on state-level and federal-level contracts.

Illinois also has over 65 Small Business set aside categories that are “set aside” for competition among Illinois small businesses.

 Illinois also has a variety of tax credit programs for small businesses to encourage job creation. Information about specific Illinois Tax Credits can be found here.

Illinois Links:

Veteran Affairs: Resources for Veteran Benefits.

Illinois SBDC: Small Business Development Center

Illinois Procurement