February 2020
Free Financial Programs
Small Business Financial Seminar
The Village of Schaumburg and Schaumburg Bank & Trust Company N.A., a Wintrust Community Bank, have teamed up to present two seminars for small businesses, each designed to help connect financial literacy to business strategy.
 
Financial literacy is not a concept found only in books. Getting the money right is key to growing and sustaining a successful business. The first seminar is for business owners who want to understand basic financial principles; including how to read financial statements and identify the right questions to ask the company’s accountant; learning how to articulate the company’s financing/credit needs; and addressing challenges including taxes, pricing, anticipating cash flow and succession.
 
Financial Literacy for Small Business
Wednesday, February 19, 2020
Al Larson Prairie Center for the Arts
201 Schaumburg Court
8 a.m. – 11 a.m.
Small Business Loan Program
The Village of Schaumburg is offering forgivable loans, up to $15,000 each, to small businesses (those with 500 employees or less) in Schaumburg.
 
Forgivable loans will be provided with a 0% interest rate and will be forgiven over a two year period provided the business continues to comply with the requirements of the program. Loans may be used to pay for advertising, inventory, fixtures, equipment, supplies, software and computers, job training, financial management education, facade improvements, awnings, signs and building construction, and renovation. One full-time job to be held by a low- to moderate income person must be created for every loan provided. Full program details and requirements can be found using the link below.
Next Level Northwest
Next Level Northwest (NLNW) continues to solicit applications to enroll in its free business accelerator program for businesses that have moved beyond the start-up phase but have not yet reached their full potential. This is your opportunity to engage with professional business coaches from around the Chicagoland area to help you grow your business, engage with your employees and innovate. 

If you have been in business for at least three years and have annual revenues of at least $250,000, submit your application today! To apply, visit the NLNW website using the link below. For more information, contact Director of Economic Development Matt Frank at (847) 923-3853. 
Small Business Spotlight - Purple Me Green

Purple Me Green is a new retail store in Woodfield Mall that sells S.T.E.M. and science-based toys as well as eco-friendly products. The store features a large play space that offers fun experiments, animals, and science play for those aged 2-14. For more information, please visit Purple Me Green’s website.
Upcoming Workforce Development Events
Harper College is hosting several upcoming information sessions for employers with workforce needs. Harper is looking to continue connecting apprentices with local businesses that feel the pressures of a lack of qualified candidates for their open positions. These programs provide a direct pathway to existing, in-demand, skilled jobs and give students valuable real-world experience while they study toward a degree. Upcoming sessions include:
 
March 4, 2020 - Banking and Finance
March 5, 2020 - Marketing and Sales Management
March 11, 2020 - Graphic Arts Print Production
March 12, 2020 - Supply Chain Management and Logistics
March 25, 2020 - Advanced Manufacturing
 
Each session is free to attend and will be held at the Harper College Wojcik Conference Center (Building W) in Room W-219 . The sessions begin at 8:30 a.m. To register and obtain additional information, click the link below. 
Congratulations on Your New Space!
Congratulations to Pure Salts Relaxation & Yoga Spa on its ribbon cutting and new space at 1740 W. Wise Road! Pure Salts is a physical and mental wellness improvement spa that offers a calm, clean, and welcoming environment with various services to help guests de-stress. The spa includes four salt caves, a full-time yoga schedule and an infrared sauna. For more information, visit Pure Salts' website .
Video Gaming Liquor License Process
“Class V” Liquor Licenses with Video Gaming will be available from Jan. 1, 2020, to Dec. 31, 2020 for existing Village of Schaumburg Liquor License holders that have held a liquor license for at least one (1) year without incident. 

Before beginning the video gaming liquor licensing process with the Village of Schaumburg, you must ensure that your establishment meets all requirements of the Illinois Video Gaming Act as well as the requirements of the Village of Schaumburg ordinance. The State of Illinois Video Gaming Location License must be obtained before a Village of Schaumburg Liquor License will be issued; however, an establishment may choose to get started with the village’s licensing process prior to receiving their State license.

Detailed requirements and the full licensing process are available on the village’s website at http://bit.ly/33FVHPL. Questions can be directed to Carmen Selke at [email protected] or by dialing 311 in the village.
Small Business Webpage
The Village of Schaumburg embraces small businesses and their impact on the community’s growth, vitality and diversity. Please visit our informative webpage containing resources related to small business planning and successes within the village. Please share our resources and help us cultivate and preserve Schaumburg as the premier destination in the suburbs. The webpage can be found at the link below.
About the Schaumburg Small Business Source
The Schaumburg Small Business Source is an e-newsletter distributed to small business owners, Schaumburg residents, and visitors to keep them informed of the latest activities and resources in the area. If you have any questions or comments about the information provided in this e-newsletter, please contact Management Analyst Kevin Leighty at (847) 923-3871.