The home of Abraham Lincoln runs light on state-level governmental controls. Instead, most business licensing is left to the local level, especially in Chicago which boasts more than 70 different business licenses. Outside the big city, counties also play an important role in business governance.
In Illinois, financial Services Firms provide financial planning, money management and investment advice. Because people rely heavily on the advice of financial services professionals, firms are required to be licensed at both federal and state levels. Of course, local businesses licenses are usually required as well.