Loading
Search
NEWS STORIES

Business owners prepare to pass along ownership Submitted: 08/22/2013
Story By Shardaa Gray

Business owners prepare to pass along ownership
Photos By Shardaa Gray

RHINELANDER - Every community in the Northwoods wants their small businesses to grow.

In order for them to grow sometimes the business owner needs their children to take over the business.

The Rhinelander Chamber of Commerce wants those business owners to be prepared when the time comes.

The chamber held a Lunch and Learn session for owners today.

The session informed business owners of options to sell or transfer ownership of the business when the time comes.

Business owner Steve Ory plans for his son to take over Enterprise Wood Products in Rhinelander.

"I think this is good for the community to have somebody come in and talk to small businesses that wants to pass it along to their children," said Ory.

"The more tax and legal information you can have the better."

Sometimes the child of the business owner might not want to take over.

That's why it's important to have a back up plan.

"Be prepared. When we talk about assembling an advisory team, we talk about attorneys, business brokers to help you sell that business and a financial advisor," Morgan Stanley Wealth Management financial advisor, Tyler Krombholz.

"All these people have to work in concert to help this transition happen."

The chamber plans to have another lunch and learn session next month.

Text Size: + Increase | Decrease -
| Print Story | Email Story
Sponsored in part by HodagSports.com





 IN OTHER NEWS

MADISON (AP) - A recent report by the Wisconsin Department of Justice on criminal sex offenses says most victims of sex crimes in the state are teenagers.

The Wausau Daily Herald reports that the data figures broken down by county also show that most offenders are also teenagers under the age of 18.

The report says that the most common relationship to victims statewide and in central Wisconsin counties is someone that knows the victim, but isn't related. The category includes: "acquaintance, employee, employer, neighbor, roommate, and other domestic violence victim."

The statewide average rate for all sex offenses has been steadily rising since 2013. There was about a 14 percent increase from 2013- 2017 in Wisconsin's average rate for sex offenses.

+ Read More

MADISON (AP) - Wisconsin has recorded its first human cases of West Nile virus this year.

The Wisconsin Department of Health Services says the case was confirmed in a Dane County resident.

Health officials are advising Wisconsin residents to continue protecting themselves against mosquito bites.

The department says the majority of human West Nile cases in the state happen in August and September.

West Nile virus is spread to people through the bite of an infected mosquito and is not transmitted person to person.

The state documented its first human infections from West Nile in 2002. Last year, 51 cases of West Nile infection were reported among Wisconsin residents.

+ Read More

Play Video

MINOCQUA - For the last two years, the Minocqua Dragon Boat Festival has partnered with the Howard Young Foundation to raise money for area hospitals.

At this year's festival, a new cause took center stage.

The Howard Young Foundation is leading an initiative to develop a research and treatment center for tick-borne illnesses in the Minocqua area.

All funds raised from the Dragon Boat Festival will go toward the center's construction.

Foundation president Erin Biertzer was pleased with how many people turned out to help.

+ Read More

Play Video

NEWBOLD - The Newbold Fire Department held its annual picnic Saturday, but this year it wasn't just about fundraising for the fire station.

The department was also celebrating a special milestone. 

The Newbold Fire Department, which started in 1968, had its 50th anniversary this year. At the picnic, there was a display and tables full of old pictures from the station's past.

+ Read More

MILWAUKEE - Heavy rains that flooded a section of Interstate 43 in the Milwaukee area left several motorists stranded.

The North Shore Fire Department responded to the scene Friday morning to help motorists, some of whom were sitting atop their flooded cars. Four people had to be rescued, and two others got out on their own.

+ Read More

MARSHFIELD -
UPDATE: On Saturday Michael Atkins was located, according to a press release form the Marshfield Police Department

Police say around 3:20 p.m. a traffic stop was made by Marshfield officers near the intersection of E Veterans Pkwy and N Vine Ave after a receiving a driving complaint involving a vehicle and driver believed to match descriptions associated with Atkins.

The driver was identified as the missing 17-year-old Michael Atkins. Atkins was transported to the department and was reunited with his mother. The investigation is ongoing. 

The Marshfield Police Department expressed thanks to the community for the ongoing support and gratitude for all those who assisted with tips and information which ultimately led to the safe return of Michael.

+ Read More

Play Video

PRICE COUNTY - A pair of Northwoods school districts could start the year without teachers to lead certain classes. Teacher shortages have left some districts looking for options to provide a full education. 

"It's very hard to find top quality teachers anymore," said Prentice District Administrator Randy Bergman.

+ Read More
+ More General News
Search: 





Click Here