An increase in income tax rate means you'll pay a higher percentage of your income to the government. This directly reduces your disposable income, the money you have left after taxes for spending or saving. This can make it harder to afford basic necessities, save for retirement, or invest in your future.
New Videos Feature CK Mondavi’s CEO David Brown, Andrew Geurink, VP, Holland Equipment, on Managing Workforce, Next Generation Issues
Family Enterprise USA’s President Pat Soldano Talks with Two Family Business Executives, One Family Member, One Non-Family Member on Key Issues
Two new videos from Family Enterprise USA have been released, one featuring the non-family member CEO of a woman-owned, 80-year-old winery and the son of the founder running a growing heavy equipment services company.
The videos, hosted by Pat Soldano, President of Family Enterprise USA, focus on the key issues facing all generationally-owned family businesses, from workforce training to regulations to transitioning to the next generation. The videos are part of a series on family business stories focusing on the issues and challenges America’s largest employer, family businesses, face today.
The CK Mondavi video features non-family member David Brown, President and CEO of the winery based in St. Helena, Calif. The Holland video features Andrew Geurink, Vice President, Holland Equipment Services, Holland, Mich.
Brown manages the 150-employee, woman-owned CK Mondavi, a fourth-generation enterprise looking to its young fifth generation to begin taking the leadership reins.
Our business is greatly affected by water restrictions and climate change,” says Brown in the video. “We need to stay within the lines of state and federal regulations, but the biggest issue is finding employees, training them, and then finding new people and training them,” he says in the video. “The workforce issue exhausts our resources.”
Guerink at Holland echoes similar workforce challenges facing his family’s 35-year-old business. Holland Equipment has 25 employees offering heavy equipment, trucking, logistics, and other services.
Finding the right kind of skilled workers, skilled trade workers, those that want to get their hands dirty are tough to find,” Guerink says in the video. “We’re trying to attract younger workers from high schools and at trade schools, but it’s not easy,” Guerink adds.
America’s family businesses represent 59% of the country’s private workforce, or some 83.3 million U.S. jobs, research shows. In a recent survey by Family Enterprise USA, it was found family businesses in America consisted of 23.7% in manufacturing, 10.4% in construction/facilities, and 9.75% in real estate.
“These videos are designed to provide real-world stories from family business across the country,” said Soldano about the latest releases. “Both Holland and CK Mondavi are good examples of the similar challenges family business face in hiring, managing difficult regulations, all while give back to the community,” she said. “We hope other family businesses can learn from these leaders, become more engaged in these issues, and as a result make our voice on Capitol Hill louder.”
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That's why Family Enterprise USA is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates, possible elimination of valuation discounts, increase in capital gains tax, enactment of a wealth tax, and the continued burden of the gift tax, estate tax and generation skipping tax.
Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization. Family foundations can donate.
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