Currently in Illinois, as an aspiring young entrepreneur, I find myself restricted by laws that prevent me from legally forming or owning a business entity such as an LLC or corporation. This limitation not only hampers my entrepreneurial ambitions but forces many like me to operate informally, creating unnecessary legal and financial risks that could otherwise be avoided.

The current legal framework in Illinois fails to recognize the potential and capability of young, driven individuals eager to innovate, create jobs, and contribute to the economy. At 16 years old, we have the privilege to drive and make informed decisions about our careers and future. Denying us the ability to legally establish a recognized business entity puts us at a disadvantage and stifles the natural entrepreneurial spirit that drives innovation.

In contrast, several other states have taken steps to empower young entrepreneurs by lowering the age restrictions for forming business entities. These states recognize that offering minors the opportunity to engage legally in entrepreneurship not only benefits the individuals but also strengthens the state's economy by fostering new businesses and job creation.

I would like to propose the bill NextGen Business Act. By allowing minors aged 16 and above in Illinois to form LLCs or corporations, we would be recognizing their potential and supporting a generation of young innovators. This change would encourage responsibility, enhance financial literacy, and prepare young entrepreneurs for future challenges in the business world.

Let's call upon Illinois lawmakers to revise the regulations that currently limit minors from legally establishing business entities, and to implement policies that nurture and support the entrepreneurial ambitions of our youth. Please sign this petition to make a change and empower young entrepreneurs in Illinois.