Channellock’s Jon DeArment Opens Up on Challenges of Multi-Generational ‘Made In USA’ Products in New Family Enterprise USA Video
Channellock’s President and COO Describes Pandemic Worries, Labor Issues, and Overseas Competition in Discussion with Family Enterprise USA’s Pat Soldano
From tool supplier for King Edward VII’s 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.
In a new video by Family Enterprise USA, DeArment, Channellock’s president and chief operating officer, details how his family’s 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.
In the 14-minute video, DeArment talks with Family Enterprise USA’s president Pat Soldano about how critical it is “to give back to the community” that has helped the company succeed, and how important the legacy of multi-generational families working at Channellock have been over the decades.
The Biggest Challenge
“The biggest challenge today is the competition from overseas,” says DeArment in the video. “It’s not a level playing field and that means made in USA pliers come at a higher cost, and that hurts us.”
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.
DeArment details to Soldano the “big deal” of estate taxes, the need for consistency in policies for government leaders, and the tough labor and materials markets.
Planning for succession takes a lot of work and energy,” the president and chief operating officer says. “And you have to do it right or you will lose your business.”
Advocating for America’s Family Business
The plight of America’s family businesses, like DeArment’s 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.
“The 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,” said Pat Soldano, president of Family Enterprise USA and its sister organization the Policy and Taxation Group.
America’s family businesses represent 59 percent of the country’s 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.
“Through this video series we hope to bring to life the importance of the family business to America’s economy, and how we need to create policies that help this engine of our workforce thrive,” said Soldano. “We 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.”
If you have a family business and a story to tell about your success and/or challenges go to www.familyenterpriseusa to submit them to us on the Contact page.
Policy and Taxation Group is your voice in Washington on economic freedom. We advocate for policies that allow American families to fully enjoy the economic liberties and benefits of a robust free market unique to our nation. For over 25 years, we have been the loudest voice in the nation’s capital on eliminating the death tax. This ill-conceived tax has a destructive impact on families, family businesses, job creation, and the national economy.
@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