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

Play Video

EAGLE RIVER - In the next couple weeks, Gov. Scott Walker will release Wisconsin's budget for the next two years. Rep. Rob Swearingen (R-Rhinelander) and Sen. Tom Tiffany (R-Hazelhurst) thought it would be a perfect time to host listening sessions in a number of Northwoods communities. 

One of the sessions was at the Eagle River library Monday. Some people brought up the poor road conditions in the area. Tiffany says transportation funding is one of the items he will be looking at closely in the upcoming budget. 

+ Read More

Play Video

LAC DU FLAMBEAU - Neal McCoy doesn't take days off.  The 58-year-old country music star is in the middle of a months-long multi-state tour, which is something he's done for nearly 30 years.

But it's McCoy's daily tradition, which started one year ago, that's rejuvenated the patriotic front man more than any concert does.

"I haven't slept in for quite a while now," McCoy said with a laugh.  "I know, I'm leading this crusade, if you will."

+ Read More

Play Video

MEDFORD - Mikayla Kelz grew up around politics. 

"When I was little my dad was actually a politician--just a local one, a district attorney," said Kelz. 

Seeing her dad work got Kelz interested in politics too.

"I remember going on the campaign trail with him and that just kind of sparked my interest," said Kelz.

+ Read More

Play Video

ANTIGO - The people of Antigo officially said goodbye to Christmas on Monday night.

The Optimist Club hosted the annual Christmas tree burn outside the high school. 

Last week, city workers collected and piled up hundreds of residents' Christmas trees.

Organizers say they believe the event has been going on for 30 or more years, and this year's weather was one for the books.

+ Read More

Play Video

TOMAHAWK - Sunday's Packers loss hit fans hard. But it also affected stores that support those dedicated fans.

+ Read More

Play Video

RHINELANDER - The YMCA of the Northwoods teamed up with LIVESTRONG to create a fitness program that supports
cancer survivors and patients. The 12-week program focuses on rebuilding strength and stamina.

YMCA wellness director Stephanie Ruckeim says it offers so much more than just physical strength.

"It's about trying to increase that muscle mass, increase their flexibility, their endurance and also work
on their self-esteem and self-confidence," says Ruckeim.

+ Read More

WITTENBERG - An expansion of the Ho-Chunk casino in northern Wisconsin could draw $37 million a year away from other tribes that own casinos in Wisconsin.

The Stockbridge-Munsee Band commissioned the economic impact study.

+ Read More
+ More General News
Search: 





Click Here