About Us

 

Designed for small business owners and entrepreneurs, SmallBizChicago.com provides news stories, events, start-up information and discussion on technology, finance, marketing, innovation, human resources, the environment, management, healthcare, and the economy.

Ownership

L3C Chicago, L3C owns and operates SmallBizChicago.com. The company was founded in July 2010 by journalist Ann Meyer, who is president, chief executive officer and sole owner of the business. In addition to operating SmallBizChicago.com, the company provides content and editorial and consulting services to organizations with a social purpose.

An L3C is a low-profit limited liability company. A form of LLC, the L3C structure can be used by for-profit ventures that have a primary goal of achieving a socially beneficial purpose.  Illinois’ L3C law, which took effect Jan. 1, 2010, aims to make it easier for social enterprises to attract capital, particularly from foundations interested in making program-related investments in for-profits with charitable purposes.

While many L3Cs have purposes similar to non-profits, they can distribute their profits to shareholders, a major distinction. By law, L3Cs are called “low-profit” companies, because profit is a secondary goal. At the same time, there is no limit to the profits L3Cs can earn. L3Cs pay taxes on income as all LLCs do, and contributions to L3Cs are not tax-deductible.

Our Mission

The mission of SmallBizChicago.com is to inform, inspire and connect businesses, particularly those small businesses underserved by mainstream media.

Our Vision

By providing accurate, engaging and practical news on topics of interest to small business owners, entrepreneurs and non-profit leaders, SmallBizChicago.com will be the dominant media outlet for content relevant to small enterprises in the Chicago area. The site will provide exclusive articles, plus aggregated news and networking opportunities for users, putting every resource they need in one convenient portal.

Our Core Values

One of the major differences between SmallBizChicago.com and the myriad blogs that offer more opinion than fact is our commitment to the highest journalism standards. To this end, we have established the following core values:

  • We believe in old-school journalism values of accuracy, objectivity and integrity.
  • We believe all businesses should be given equal consideration, regardless of ethnicity, gender, religious background, etc., and we believe we have an obligation to shed light on businesses owned and operated by women, minorities and immigrants.
  • We will show no favoritism to advertisers in our editorial coverage, but instead adhere to sound journalistic principles when writing, editing and posting articles, always remembering that our first responsibility is to report the news accurately and fairly to best serve the public interest and maintain our credibility.
  • We will take precautions to guard against errors, omissions and misunderstandings. We will clearly separate editorial content from that sponsored or paid for by an advertiser. Any errors will be corrected promptly and publicly.
  • We will guard against bias stemming from conflicts of interest and openly disclose any relationships that might be perceived as a conflict.
  • By adhering to these principles, we believe we will present a better product, one that best serves the public’s interest in business news on a local level.

 

 

Why SmallBizChicago.com Exists

SmallBizChicago.com is the media innovation that local entrepreneurs have been waiting for — a news outlet providing focused, trustworthy coverage for a critically underserved segment of Chicago’s community and serving as a place where small business owners and workers can  exchange  information and ideas.  There’s nothing quite like it in the marketplace. Major media, as well as bloggers, tend to cover the same large companies. The small businesses that propel economic opportunity at the neighborhood level get practically no attention, and consequently businesses have no way to share the lessons they’ve learned with their peers.

A Ready Market

 

Some 98 percent of Illinois’ employers are small organizations with 500 employees or fewer, the U.S. Small Business Administration reports. More than half of all private-sector employment comes from this sector. Women- and minority-owned businesses are among the fastest growing, reflecting the ability of entrepreneurship to make a difference in some of the hardest-hit parts of the Chicago metropolitan area.

SmallBizChicago.com’s launch coincides with growing interest in entrepreneurship. Nationwide, about 500,000 new businesses are created each month, according to the Kauffman Foundation, and start-ups create two-thirds of the nation’s new jobs.  The number of college and university programs in entrepreneurship has more than tripled to keep pace with increasing demand for information and training. Yet new media development in this area has been lagging.

We believe in the power of news and information to help entrepreneurs and small companies learn and grow. This online publication is designed to bring together breaking news and content from various organizations and institutions. The site will connect Chicago’s fragmented small business community by providing a platform for discussion, relationship-building and business transactions while also providing a vehicle for advertisers, corporate sponsors and business organizations to reach small business owners. By providing pertinent information, SmallBizChicago.com will help businesses in all Chicago neighborhoods excel and grow, ultimately helping to create jobs and wealth in our local ecoonomy.

SmallBizChicago.com’s impact will be felt in numerous ways. It will:

  • Reverse the decline in small business news coverage and fill a gap in the market by utilizing the capacity, convenience and interactivity of the Internet.
  • Shed light on small businesses, including those owned by women, minorities and immigrants, who are largely uncovered by traditional media.
  • Provide a tool for business groups to communicate news and events.
  • Provide a common meeting place for small business owners, experts and non-profit leaders in the Chicago area  and beyond to share ideas, opinions and ask for advice.
  • Spur economic development by providing news, information and resources to strengthen small businesses, helping them reach the next level, creating jobs and wealth.
  • Provide a vehicle for advertisers to reach emerging entrepreneurs and established small businesses and non-profits, thereby contributing to its financial sustainability.
  • Be structured as a low-profit limited-liability company (L3C) to accommodate funding from  variety of capital resources.