Jan 6, 2013

Siblings Share Joy, Possible Pitfalls of Working TogetherBy Melony OvertonPortLavacaWave.com

Port Lavaca, TX – Family-owned businesses account for 90 percent of all businesses in the United States, according to the U.S. Small Business Administration.

Common pitfalls that can eventually shutter a family-owned business include emotions, family politics and personal preferences getting in the way of sound business practices, hiring an unskilled relative, an unwillingness to invest time and money and a lack of communication and clearly defined roles.

Luckily, siblings Kathy Hoskins and Teresa Gonzales, both of Victoria, have experienced more of the joys of co-ownership of a small business and less of the pitfalls.

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