Illinois Businesses Make Forbes Best Small Companies List

They may be small, but they are mighty: Three Illinois companies made Forbes' second annual Best Small Companies List, released on May 9. Also known as the 2017 "Small Giants" list, it comprises 25 small companies that value “greatness over growth.” According to Forbes, what these companies have in common is a sound business model, strong balance sheets and steady profits.

But that’s not all. The companies contribute to their communities and have been acknowledged in their respective fields.

Here are the three Illinois companies that made the list and what Forbes has to say about them:

Basecamp, based in Chicago, with an estimated $25 million in revenue and 52 employees:

Jason Fried has turned down more than 100 investment offers from venture capitalists and private equity firms for Basecamp, which makes cloud-based software that provides small businesses with a centralized system that brings together internal communications, projects and client work in one location. Fried prefers slow, consistent and profitable growth of at least 5% a year—“so we can enjoy the culture of a small business.” Among those joys are employee benefits that include a 30-day sabbatical every three years, subsidies for hobbies outside of work and paid family vacations.

Fusion OEM, based in Burr Ridge, with $11 million in revenue and 55 employees:

Craig Zoberis didn’t like the culture at his father’s contract-engineering business. So, in 2002, after getting an M.B.A., he started Fusion OEM, a contract manufacturer of mechanical and electrical devices and components. Fusion OEM does all its manufacturing at its plant outside Chicago, and Zoberis prides himself on paying above-market rates: Workers with no experience start at $14 an hour.

Nick's Pizza & Pub of Crystal Lake, with $6 million in revenue and 200 employees:

Nick Sarillo started Nick’s Pizza & Pub partly because he felt the community needed a family-friendly restaurant. A former construction worker, he was frustrated with the options available for his own family. In the next 15 years, Nick’s Pizza & Pub did indeed become a sort of community center. Scarcely a week went by without fundraisers for local charities or people in need—and Nick’s would contribute 15 percent of the gross profit generated by events. It also had a vibrant culture built around what he called his “trust-and-track” (as opposed to command-and-control) approach to managing. He was naïve about finance, however, and, out of ignorance, took on too much debt over the years. The result: he was running out of cash and three weeks from bankruptcy in 2011. With all other options exhausted, he wrote an email to customers explaining the situation, taking full blame for it, and asking for help. The customers rallied and literally saved the company. Sales almost doubled for the next two months. Some even called the bank, urging it to help Sarillo find a solution. The company survived; Sarillo’s debt was restructured, and he learned a hard, but crucial, lesson about the balance sheet.

Click here to see the full list of companies that made the list.

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