Loading
Search
NEWS STORIES

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


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

WISCONSIN - Coyotes become more active and territorial this time of year.

That's because it's breeding season for the animals.

The DNR hopes people will take steps to avoid interactions with coyotes.

+ Read More

EAGLE RIVER - Vilas County's courthouse expansion could look a little different and sit in a different spot than previously agreed upon, but those changes could save close to a million dollars and speed up construction.  Tuesday, a county committee agreed that's a good path to take.

+ Read More
What We're Working OnSubmitted: 02/09/2016

- Chronic Wasting Disease just made it to the Northwoods. What is the Upper Peninsula doing to try and stop its spread there? Find out tonight.

We'll have the details on this story and more tonight on Newswatch 12 - news from where you live.

+ Read More

ST. GERMAIN - You don't need to be Polish to enjoy freshly made Paczki. The deep-fried pastry is a Fat Tuesday favorite that's become popular in the Northwoods.

+ Read More

MADISON - Wisconsin consumer protection officials compiling a list of top complaints in 2015 say identity theft is on the rise.

The Wisconsin Department of Agriculture, Trade and Consumer Protection says telemarketing remains the perennial leader among complaint categories, reinforced by a rash of threatening phone scams.

+ Read More

MADISON - The state Assembly has approved a bill that would push the start of Wisconsin's wolf hunt back if the federal government allows the season to resume.

+ Read More

MINOCQUA - Some local businesses will feel the love this Valentine's Day.

Americans are expected to spend more than $4 billion on jewelry alone, according to the National Retail Federation.

+ Read More
+ More General News
Search: 




Click Here