In Lake County, Illinois, small businesses are more than just storefronts or service providers—they are the heartbeat of our local economy. From family-owned restaurants and tech startups to independent retailers and community-based service firms, small businesses drive innovation, create jobs, and strengthen the fabric of our neighborhoods.
Recognizing their essential role, the Lake County Community Foundation (LCCF) and Allies for Community Business (A4CB) have launched the Small Business Growth Initiative (SBGI)—a comprehensive, data-driven program designed to equip local entrepreneurs with the tools, mentorship, and connections they need to thrive.
“The SBGI represents a forward-thinking approach to small business development, one that combines financial support, relational capital, and human expertise to build lasting economic resilience,” notes Courtney Combs, LCCF’s Director of Strategy and Community Impact, and administrator of SBGI. “SBGI is more than just a program. It’s a community-driven effort to ensure that every small business owner in Lake County, regardless of their background or industry, has access to the knowledge, resources and networks necessary for long-term success.”
A Model for Inclusive Development
Human-Centered, Individualized Support
SBGI rejects one-size-fits-all approaches in favor of tailored support that meets entrepreneurs where they are. Each business works closely with a dedicated coach to complete 11 foundational milestones—such as business planning, financial forecasting, and formalizing banking relationships—that position owners for long-term growth.
Peer Networks That Strengthen the Ecosystem
In addition to one-on-one coaching, SBGI brings entrepreneurs together through four cohort sessions designed for peer learning, relationship-building, and collaboration. These connections extend beyond individual businesses, reinforcing a more resilient and interconnected small-business ecosystem across Lake County.
Flexible Technical Assistance That Removes Barriers
Participants access technical assistance as needed, including bookkeeping, marketing, website development, and regulatory navigation. This flexible, on-demand support reduces friction and allows entrepreneurs to focus on growing their businesses.
Data-Informed, Community-Rooted Impact
By pairing data-driven strategy with deep community relationships, LCCF and A4CB ensure the program remains responsive and equitable. Early outcomes show greater clarity in business goals, stronger financial planning, and increased connection among participants—benefits that ripple outward into the local economy.
“Allies for Community Business provides the capital, coaching, and connections entrepreneurs need to grow great businesses that create jobs and wealth in their communities,” said Brad McConnell, CEO of A4CB. “Working alongside the Lake County Community Foundation, we are ready to help a group of entrepreneurs invest grant dollars smartly to increase their revenues and hire locally.”
Program Goals: Building a Stronger, More Connected Local Economy
The goals of the Small Business Growth Initiative go beyond supporting individual enterprises. The program is designed to:
- Foster a more collaborative environment for small business owners.
- Create spaces for peer learning networks, where entrepreneurs can exchange ideas and strategies.
- Encourage business viability and sustainability through individualized mentorship, technical assistance, and financial support.
- Strengthen community economic development, ensuring that local growth benefits everyone.
In this way, SBGI is helping to build not just stronger businesses, but also stronger communities. Each participating entrepreneur becomes part of a ripple effect—contributing to local job creation, increased consumer spending, and a more vibrant and resilient Lake County economy.
Who Can Participate?
The SBGI is open to small businesses that are current and in good standing with the IRS and have at least $50,000 in annual revenue. To ensure that the program aligns with community values, there are some restrictions—businesses involved in tobacco, gambling, high-interest lending, or adult entertainment are not eligible to participate.
After careful consideration, LCCF and A4CB have structured the program to support businesses in Waukegan, North Chicago and Zion, where the organizations believe the impact will be the greatest. This eligibility framework ensures that the program’s resources are directed toward businesses that positively impact the community and reflect Lake County’s long-term vision for inclusive, sustainable economic growth.
Looking Ahead: A Bright Future for Lake County’s Entrepreneurs
By building bridges between public and private sectors, simplifying pathways to success, and fostering genuine collaboration, Lake County is setting a new standard for how regions can support small business growth.
In the end, the story of the Small Business Growth Initiative is the story of Lake County itself—a community that believes in possibility, invests in people and understands that when small businesses thrive, everyone thrives.
The Small Business Growth Initiative grant application is now open through April 3rd until 5 pm central for small businesses in Waukegan, North Chicago, and Zion. Entrepreneurs can apply directly through Allies for Community Business application here. For questions, please contact Courtney Combs at Courtney@lakecountycf.org.