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

MANITOWOC - Police in Manitowoc say a man fatally shot at his home was apparently targeted by his assailant.

In a news release Friday, police Capt. Larry Zimney says no one is in custody, but the public is not believed to be in any danger.

+ Read More

RHINELANDER - Most New Year's resolutions start with the best of intentions, but sticking with them can sometimes be easier said than done.

+ Read More
What We're Working OnSubmitted: 02/05/2016

- Tonight on Friday Night Blitz we will bring you scores from high school games all across North Central Wisconsin as well as highlights from the following boys basketball games:

D.C. Everest vs. Wausau West

Antigo vs. Mosinee

Rhinelander vs. Tomahawk

Marshfield vs. Merrill

That will be tonight on Friday Night Blitz at the end of Newswatch 12 at 10.

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

+ Read More

MILWAUKEE - The chief of staff fired from the Wisconsin Veterans Affairs Medical Center in Tomah after allegations of over-prescription of narcotics were investigated is set to begin practicing psychiatry in La Crosse.

Some patients at the Tomah VA nicknamed Dr. David Houlihan "candy man" because of the amount of pain medications he prescribed. Although complaints are pending against Houlihan, he has not been charged and continues to hold his license to practice.

+ Read More

Play Video

PRENTICE - More than 200 workers at the Prentice Caterpillar facility potentially faced pink slips last week. Now, those workers might not lose their jobs.

Instead, Newswatch 12 learned Thursday, a company wants to buy the 71-year-old forest products plant and potentially expand it.

+ Read More

WAUSAU - Former senator Russ Feingold wants to do more to help students pay for college.

Feingold has been touring colleges throughout the state to learn more about how people pay for higher education.

Thursday he stopped by UW-Marathon County.

+ Read More

Play Video

CRANDON - This week, members of Congress grilled local and state water leaders on the drinking water crisis in Flint, Michigan. Tests have shown Flint's water contains dangerously high levels of lead.

R.T. Krueger thinks politics got in the way of science in the Flint case. Krueger is the president of Northern Lake Service a water-testing lab in Crandon. Northern Lake Service is one of just two or three labs of its kind and caliber in Wisconsin.

+ Read More
+ More General News
Search: 




Click Here