Loading

17°F

16°F

19°F

17°F

16°F

17°F

19°F

17°F

16°F

19°F

17°F

19°F
NEWS STORIES

Business owners prepare to pass along ownership Submitted: 08/22/2013

Shardaa Gray
Reporter/Anchor
sgray@wjfw.com


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

JANESVILLE - Mitt Romney is scheduled to return to Wisconsin this spring, but he won't come back as a Republican candidate for president.

Romney said Friday he will not run for president in 2016.

The business group Forward Janesville says Romney will keynote its annual dinner on April 7 in Janesville, hometown of his former running mate U.S. Rep. Paul Ryan.

+ Read More

RHINELANDER - Parents of students in two Northwoods schools will take part in a statewide parenting project this year. UW-Extension offices across the state are organizing the eParenting Program.

This is the first year that James Williams Middle School in Rhinelander is taking part in the program. Elcho School is also participating.

Parents in the project get emails every week with different parenting resources.

+ Read More

MADISON - The flu gets the blame for the deaths of three more children in Wisconsin.

That brings the total number of pediatric deaths to five.

The latest report from the state Department of Health Services shows this flu season is second only to 2009, when the swine flu caused the deaths of six children.

In the U.S. this season, Wisconsin is behind only Texas with seven pediatric deaths.

+ Read More

DETROIT - A judge has dismissed the last charge against a Detroit police officer who fatally shot a 7-year-old girl during a raid and says she's willing to be the ``scapegoat'' if critics don't like the result.

Judge Cynthia Gray Hathaway granted the prosecutor's request Friday to drop a misdemeanor against Joseph Weekley.

+ Read More

MADISON - U.S. Sen. Tammy Baldwin is asking that the lead investigator probing allegations of opiate over prescription and retaliatory practices at a VA hospital in Tomah take into account the testimony of whistleblowers.

In a letter Thursday, Baldwin asked that VA Under Secretary Carolyn Clancy consider concerns not addressed in an earlier report. Baldwin says an investigation published in March was not thorough in its reporting of opiate-prescribing practices.

Baldwin had recieved the report in 2014, but did not start advocating for the issue until an investigative journalism piece showed a 35-year-old Marine died of an overdose in the inpatient care unit.

+ Read More

Play Video

LAC DU FLAMBEAU - Children and adults at Lac du Flambeau Public School worked hard to construct a traditional Ojibwe Winter Lodge.

People worked together for nine months to build it.

The entire lodge is made from natural materials. Both the gathering of materials and the construction of the lodge were done in a spiritual way: acknowledging and thanking the earth.

"Native people, we look at the trees, we look at the animals, we look at the fish. We revere those things as our relatives. A lot of non-native people look at those things as a resource," said Ojibwe Language and Culture Instructor Wayne Valliere.

+ Read More

Play Video

MINOCQUA - People in Minocqua brought back a Northwoods tradition this year when they rebuilt the city's giant snowman.

For a few years, the giant snowman didn't get built, because of poor weather conditions.

"Who doesn't love to build a snowman?" asked Minocqua Area Chamber of Commerce Executive Director Krystal Westfahl. "And to have the opportunity to build a 30-foot snowman brings out every kid in us."

Volunteers in Minocqua helped build the enormous snowman, named Snowmy Kromer, just outside of the Chamber of Commerce. He used to be built near the Island City Ice Cream store. But this year, they wanted to try a new spot.

+ Read More
+ More General News
Search: 




Click Here