Among the tired old buildings that stand empty and broken in downtown Joliet, there is an accounting firm that does business with as much pride as one of the more gallant structures reflecting the town's history.
Mittchelena Meade and her husband Charles review accounts together at their home office in Joliet.
In 2007, Meade Accounting and Wealth Management moved to downtown Joliet which is a Small Business Administration (SBA) HUBZone. This year, they became certified as a HUBZone business. "Something inside of me tells me this will be helpful," said Mittchelena Meade, president of Meade Accounting. "We're really hoping this will be helpful." Last year, Meade Accounting earned the SBA 8(a) rating. They are also a certified minority contractor for the Illinois Department of Transportation (IDOT). These classifications allow Meade to bid on a number of government and business contracts.
The SBA HUBZone program promotes job growth, capital investment, and economic development to historically underutilized business zones. The program provides federal contracting assistance for qualified small businesses located in these business zones as a way to increase employment and investment opportunities and improve economic conditions in these areas.
While growing up, Meade was encouraged to go to school and get a good job but not to open a business. Nevertheless, she did not let that stop her. "I realized that opening my own business was what I really wanted to do. I've never regretted it since," said Meade who started Meade Accounting more than 25 years ago. She runs the business in partnership with her husband and high school sweetheart Charles. They have been married for 36 years.
"This is a good example of how a small business can be important to a community and the local economy," said Brian Thompson, business analyst for Joliet Junior College's Illinois Small Business Development Center. "Accounting is a solid business service with excellent growth potential."
Thompson met with Meade earlier this year to discuss ways the firm could expand its business services. "Although they were doing very well, they wanted to increase their client base so they could venture into other areas of accounting," said Thompson. "We looked at what they were currently doing and found many opportunities to find additional clients who would tap into their varied accounting services."
One of those opportunities will come from increased government regulations. Meade sees a stronger demand for accounting as regulations begin to expand. "The need for accounting is going to grow more and more as new regulations impact the banking and health care industries," said Meade.
"Businesses engaged in banking and health care will require the services of accounting professionals who understand the complexity of these new regulations," said Thompson. "Meade has a good chance of helping small businesses in the area navigate the regulatory bureaucracy. Being downtown makes them easy to locate and available to many smaller firms."
While being downtown supports the growing business community in the area, there is a real need to attract more businesses. Meade suggested one possible way to do it. "Somehow we need to build it up more as a historical center," she said. "I like to see the history of other communities such as Geneva, Naperville, and even LaGrange." She believes Joliet has a proud history too. For that reason, Meade is happy to be downtown where so many old buildings reflect the struggles of the past and the promise of the future.
To learn more about Joliet Junior College's Illinois Small Business Development Center and how it can help your business, call (815) 280-1400, or e-mail SBDC@jjc.edu.