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|Where to Start?|
|Forming the Business|
Starting a new business can be a dream come true but doing so also posses several challenges. Among the intricacies of starting a new business is the decision regarding where to locate. Determining where to root a company is a step that takes tremendous consideration and an assessment of a company's short and long-term goals. There are several benefits to locating a business in Chesterton which includes the town's:
In addition to the following steps it is highly recommended that legal counsel be obtained when starting and maintaining a business. Follow this link for law offices in Chesterton.
Informal Enterprises (do not require documentation to be filed with the Indiana Secretary of State)
Formal Enterprises (require filing of organizational documents with the Corporations Division of the Secretary of State)
Limited Partnership (LP) - A LP consists of at least one General Partner and one Limited Partner. In this situation, the General Partner assumes all the debts and liabilities of the business while the Limited Partner only takes on the responsibility of debt and liabilities equivalent to his or her investment into the company.
In accordance with Indiana Law, the name of a Corporation, LLC, LP, and LLP, must be distinct from the names of other businesses of the identical category on the records of the Secretary of State's Office. To check the availability of a specific name, call the NAME AVAILABILITY LINE (317) 232-6576 or check online. It is important to note that these methods of determining name availability are a preliminary evaluation and should not be relied upon. If the preliminary check leads to the discovery of an available name, one of two steps can be taken. There is the option to file an application to reserve the name for 120 days or file documents to organize the business under that name.
4. Register with the Indiana Department of Revenue by submitting a Business Tax Application (BT-1) and additional forms if you:
5. File appropriate tax forms with the Internal Revenue Service based on the structure of your business:
6. Register with Chesterton's Clerk Treasure's Office
The dream of starting a new business and being your own boss has lured many individuals to become entrepreneurs. The services they provide and the items they produce may widely vary, yet what all entrepreneurs share is their desire to succeed. Chesterton is a locality that offers the chance to do just that. The town's central location and financial incentives entice many entrepreneurs.
"Location is the biggest benefit to locating [a business] in Chesterton," Chesterton resident and business owner, Eric Kroeger, said.
In 2010, Kroeger along with Ron Casteel created the innovative, technology based company, Virtual Innovation, Inc. (VI). The company was created in order to provide financial institutions with a reliable method to meet their availability, recovery, and security needs by utilizing virtual technology.
"At VI, we provide technology based services to clients throughout the Midwest, and Chesterton is centrally located with easy access to Indiana, Illinois, Michigan and Wisconsin. Further, most of our employees live in Northwest Indiana, and Chesterton offers great quality of life for our employees and their families," Kroeger added.
Eric Kroeger has used his business knowledge to give back to the community. In 2007, Kroeger along with Gerard Pannekoek, President of IPXI Holdings, LLC, created the Future of Chesterton program. Throughout the years the program has allowed a unique relationship to develop among the business community, town officials, and the student participants. Each year students compete in teams to create a proposal concerning economic development in hopes of earning a scholarship or paid internship.
According to the Northwest Indiana times, as of May 2011 VI was on track to gross over $1 million dollars in its first year of operation. Just as VI has been able to thrive in Chesterton, so have many other entrepreneurial ventures. A success story that truly illustrates Chesterton's diverse economy can be told from Laura Zaranski, the owner of East Wind Acupuncture and East Wind Studios. In 1998, Zaranski opened the doors to East Wind Acupuncture in order to share her passion for Chinese medicine with the Duneland Community. After successfully opening and operating her company for 13 years, Zaranski saw the potential for expansion and in 2011 opened up East Wind Studios. East Wind Studios focuses on the lifestyle enhancement side of Chinese medicine. The studio offers a variety of classes such as tai chi, Zumba, yoga, Pilates, mediation, and qi gong.
"I have lived in Porter/Chesterton since I moved here from California over 18 years ago so when I decided to open a business, I wanted work to be close to home. I like the ease of access to I-94, Chicago and beyond. I love the dunes and Lake Michigan. I like the small town," Zaranski said.
In addition to Chesterton's attractive location, certain businesses have been lured to the community by its reputation of demonstrating support to its small businesses. Healthcare Management Services Midwest, LLC relocated to Chesterton from southwest Michigan for this reason among others. HMS Midwest is a medical practice management consulting firm dedicated to practice operations, new practice start ups, in addition to reimbursement management.
"We feel that the relationships that we have built in Chesterton have been instrumental in helping us to grow. The Chesterton/Duneland Chamber of Commerce is there to help every step of the way," Tracy Freeze, HMS Midwest Principal said.
Freeze's company has grown to serve over 30 medical professionals from several states. HMS Midwest enables its clients to remain competitive by providing them with the opportunity to outsource and thus operate in the most efficient manner.
In addition to the technology, consulting, and medical based companies located in Chesterton, fine dining has become more prevalent in the community. A significant step in this culinary direction was taken in 1998 when Michael and Nada Karas opened Lucrezia Café at the corner of Calumet and Porter Avenue. Mr. and Mrs. Karas opened their restaurant in Chesterton after moving to the community in 1996 and are proud to supply the Duneland community with exceptional cuisine.
"There are more Chicagoans finding out about this town. It's a great place to dine if you're on your way to your Michigan cottage. We are still on Chicago time, so one can still dine late on a Friday night! It's a great halfway point between South Bend and Chicago too," Nada Karas said. "We get lots of Notre Dame traffic."
Ultimately starting and successfully operating any business takes dedication, expertise, and sometimes a little bit of luck. The Town of Chesterton offers entrepreneurs the opportunity to be successful. The town's convenient location, transportation infrastructure, financial incentives, proximity to Chicago, proactive Chesterton/Duneland Chamber of Commerce and Duneland Business Initiative Group, among other aspects will equip entrepreneur's with the tools necessary to launch a business. If locating a business in Chesterton is on the horizon and you would like to learn more contact the Chesterton/Duneland Chamber of Commerce at (219) 926-5513.
"Chesterton is a great place to live and raise a family. The proximity to Chicago, the transportation infrastructure, and the quality of life make it a great place to locate a business."
-Eric Kroeger, President of Virtual Innovation, Inc.
"Know your market, know your product, define your purpose, work hard, and join the chamber. It is a great town to live and work."
-Laura Zaranski, owner of East Wind Acupuncture and East Wind Studios
"Get involved with many different organizations and make it a part of your core philosophy to give back to the community that supports you. The Chesterton/Duneland Chamber of Commerce is there to help you every step of the way."
-Tracy Freeze, Principal of HMS Midwest, LLC.
"Don't let the current "roof top" count of homes deter you from opening a business. 'Build it and they will come'."
-Nada Karas, owner of Lucrezia Café