The Small Business Advocacy Council (SBAC) was founded in 2010 to promote the interests of small businesses in the Chicago community. The underlying philosophy for the SBAC is the advancement of small business interests through non-partisan political action, networking and education.
The SBAC has several chapters throughout the Greater Chicago area and currently represents more than 1,000 businesses. 3Points CEO Steve Banke serves on the SBAC Board of Directors, and 3Points offers financial support and representation at the organization’s events.
Since its founding in 2010, the SBAC has recorded several major policy victories at the state and federal level. One of these accomplishments was nationwide Section 179 reform, which now allows small businesses to receive tax deductions of up to $500,000 each year on capital expenditures. Another major legislative accomplishment was the elimination of barriers preventing intrastate equity crowdfunding in Illinois, an initiative that flew through the state legislature with full bipartisan support.
All SBAC activities are meant to remedy the pain points of small businesses nationwide – businesses that are often forgotten by legislators even though they employ more than 50% of working Illinoisans. For more information on the SBAC, including upcoming events and membership information, visit their site here.