[et_pb_section fb_built=”1″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/polling-and-research\/do-not-impose-a-net-investment-income-tax-on-non-passive-business-income\/” button_text=”Contact your member of Congress! Tell them NOT not to impose a net investment income tax on non passive business income.” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Call to Action Button” _builder_version=”4.17.6″ _module_preset=”default” custom_button=”on” global_colors_info=”{}”][\/et_pb_button][et_pb_divider _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”Content” _builder_version=”4.17.6″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n
From tool supplier for King Edward VII\u2019s royal horseshoer to to the leading US-made plier manufacturer, Jon DeArment of Channellock understands what it takes to keep a multi-generational family business going.<\/p>\n
In a new video by Family Enterprise USA, DeArment, Channellock\u2019s president and chief operating officer, details how his family\u2019s 136-year-old business has managed to grow from a horse-drawn wagon to its current location here with 250,000 sq. ft. of manufacturing and warehouse space, and 370 employees making 75 different types of pliers.<\/p>\n
In the 14-minute video, DeArment talks with Family Enterprise USA\u2019s president Pat Soldano about how critical it is \u201cto give back to the community\u201d that has helped the company succeed, and how important the legacy of multi-generational families working at Channellock have been over the decades.<\/p>\n
[\/et_pb_text][et_pb_video src=”https:\/\/www.youtube.com\/watch?v=tmxFubyBiHA” _builder_version=”4.17.6″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_video][et_pb_text admin_label=”Content” _builder_version=”4.17.6″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n
The Biggest Challenge<\/strong><\/p>\n \u00a0<\/strong>\u201cThe biggest challenge today is the competition from overseas,\u201d says DeArment in the video. \u201cIt\u2019s not a level playing field and that means made in USA pliers come at a higher cost, and that hurts us.\u201d<\/p>\n Removing current tariffs that level things somewhat will be painful to Channellock, but DeArment is fighting the removal of tariffs on overseas makers, he says, along with other issues negatively affecting long established family businesses like Channellock.<\/p>\n DeArment details to Soldano the \u201cbig deal\u201d of estate taxes, the need for consistency in policies for government leaders, and the tough labor and materials markets.<\/p>\n Planning for succession takes a lot of work and energy,\u201d the president and chief operating officer says. \u201cAnd you have to do it right or you will lose your business.\u201d<\/p>\n Advocating for America\u2019s Family Business<\/strong><\/p>\n The plight of America\u2019s family businesses, like DeArment\u2019s Channellock, come alive on this Family Enterprise USA video series. The series shows the challenges of running a family business today and tough it is handing it down from one generation to the next.<\/p>\n \u201cThe series deals with both difficult and triumphant family business stories, unexpected tax bills that force families to sell, and how family businesses are working with legislators to create an environment for success,\u201d said Pat Soldano, president of Family Enterprise USA and its sister organization the Policy and Taxation Group.<\/p>\n America\u2019s family businesses represent 59 percent of the country\u2019s private workforce, or some 83.3 million U.S. jobs. In a recent survey by Family Enterprise USA, it was found family businesses in America consisted of 23.7 percent in manufacturing, 10.4 percent in construction\/facilities, and 9.75 percent in real estate.<\/p>\n \u201cThrough this video series we hope to bring to life the importance of the family business to America\u2019s economy, and how we need to create policies that help this engine of our workforce thrive,\u201d said Soldano. \u201cWe also want to create an archive of videos on family businesses and their struggles. We hope family businesses from around the country will contact us and tell us their family stories.\u201d<\/p>\n If you have a family business and a story to tell about your success and\/or challenges go to www.familyenterpriseusa<\/a> to submit them to us on the Contact page.<\/p>\n [\/et_pb_text][et_pb_text disabled_on=”on|on|on” admin_label=”Credit” _builder_version=”4.17.6″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/www.bhfs.com” link_option_url_new_window=”on” disabled=”on” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_divider disabled_on=”on|on|on” _builder_version=”4.17.4″ _module_preset=”default” disabled=”on” global_colors_info=”{}”][\/et_pb_divider][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/2022-annual-family-business-survey\/” button_text=”Have Your Voice Heard in Congress. Please Take Action Today!!!” button_alignment=”center” disabled_on=”on|on|on” admin_label=”Call to Action Button” _builder_version=”4.16″ _module_preset=”default” custom_button=”on” disabled=”on” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”FEUSA Statement” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_colors_info=”{}”]<\/p>\n Family Enterprise USA<\/a> advocates for American Family business. We help family businesses communicate their challenges and contributions to American economic freedom to Legislators. We represent all American family businesses; not just specific industries and provide research to enhance the opportunity for success. We help family businesses continue to establish their unique business legacy. Family Enterprise USA is a 501(c)(3) non-profit organization.. Family foundations can donate.<\/a><\/p>\n [\/et_pb_text][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” button_text=”Are you an FEUSA Member? If not, get in on the movement today!” button_alignment=”center” admin_label=”Call to Action Button” _builder_version=”4.16″ _module_preset=”default” custom_button=”on” global_colors_info=”{}”][\/et_pb_button][et_pb_video src=”https:\/\/www.youtube.com\/watch?v=SjNKqgRoU5A” _builder_version=”4.17.6″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_video][et_pb_text admin_label=”Hash tags & Tags” _builder_version=”4.17.6″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyBusiness #Business #SmallBiz #EstateTax #Deathtax #CapitalGainsTax #StepUpInBasis #Taxes #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #promotefamilybusinesses #taxLegislation #AdvocatingForFamilyBusinesses #incometax #Generationallyowned #Multigenerationalbusiness #taxes #taxseason #federaltaxpolicy #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Channellock\u2019s Jon DeArment Opens Up on Challenges of Multi-Generational \u2018Made In USA\u2019 Products in New Family Enterprise USA Video Channellock\u2019s President and COO Describes Pandemic Worries, Labor Issues, and Overseas Competition in Discussion with Family Enterprise USA\u2019s Pat Soldano From tool supplier for King Edward VII\u2019s royal horseshoer to to the leading US-made plier manufacturer, […]<\/p>\n","protected":false},"author":2,"featured_media":5678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[48,3,92,78,16,87],"tags":[],"class_list":["post-5679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-feusa","category-multi-generational-business","category-in-the-news","category-video-post","category-watch-listen"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/5679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5679"}],"version-history":[{"count":5,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/5679\/revisions"}],"predecessor-version":[{"id":5687,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/5679\/revisions\/5687"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/5678"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Our thanks to Brownstein Hyatt Farber Schreck for this report.<\/strong><\/h3>\n
\n
\n