Making decisions regarding family business inheritance will be the focus of an educational session to be held from 1 to 2:15 pm Thursday, February 24, at the NTEA convention. Another NTEA session, "Valuing Your Business for Sale, Succession, and Taxes," from 2:30 to 3:45 pm on Thursday, will focus on strategies to prepare for the selling, merger, acquisition, or family transfer of family-owned businesses.
Both sessions will be presented by Mike Henning, a family business consultant. In his first talk, Henning's aim is to help family business owners learn how to develop a process for decision-making. Entitled "Fairness, IRS, and Family Feuds," the talk will focus on the problems that may arise when business inheritors believe it is their right to pick and choose what they should inherit.
Henning's presentations will draw on his experiences managing a successful family business, advising other family companies, and his diverse educational background.
In 1985, Henning established the Henning Family Business Center. It is a consulting and seminar company dedicated to research, development, and teaching a family business continuity model to business owners, heirs, and managers.
Henning formerly owned an automotive parts distribution center, which he managed for 15 years. He also was a successful partner in seven other corporations in divergent fields, including a restaurant, real estate firm, and retail auto parts company. He is a certified speaking professional listed with the National Speakers' Association and an author of two books.
Henning presents about 60 keynote addresses and seminars annually throughout the world. His audiences include associations, corporations, and universities.
The speaker has worked with nearly 150 clients, including privately owned businesses ranging from a Fortune 500 company to member firms of many major associations. He has worked with large and small organizations to help assure profitability, growth, and continuity in their businesses from one generation to the next.