For some, family businesses mean spending more quality time with their families, financial freedom and so much more while for others it feels like a prison sentence. There are so many pros and cons, positives and negatives and so we wanted to create a space for folks who have experiences with family businesses to discuss the pros and cons.

Latoshia Martin

As a wife and mother of two, I believe that it is important to include my children in the business that I created. My sons started with me at the beginning stages of my company’s creations. I was home during the covid lock down teaching through zoom. While at home, I decide to work on a passion that I had for years. I always wanted to write children’s books. I sat with my son’s Iry and Isaiah and brainstorms some names for the business. My oldest son Iry told me to keep it simple. We decided to use our last name as the company’s name. With their help, I started Martin’s Children’s books. Along with the creation of the business, my son’s helped me come up with the story line of my first book ” Black Boy Be You”. They also aided in choosing the best illustrations for the story. Read more>>

Jennifer Lockwood

My husband and I run Noxx full-time from our home and Gilbert and have been working together for the past 7 years. It can be tricky at times because we both come from restaurant management, so we’re both used to being in charge, but we have settled into our own roles within the company and really enjoy all the time we get to spend with each other. We’ve had to overcome many hurdles, but at the end of the day, we feel very lucky that we have this business together and wouldn’t want it any other way. Both of our parents have helped out in various ways over the years as well, and his currently sew beanies in bulk to help keep our inventory stocked… even our kids will get in on the action every once in a while. Read more>>

Esther Kim

My husband and I started Happy Party Co at the end of 2021 and our daughters see the ins and outs of us preparing for each event, so I would very much consider this our family business! I think one of the biggest things that work well for us is that we are both grounded in the same why and mission as to why we started this company, and we’re aligned on what we hope it will become. We also have very specific strengths that contribute to the business that are very different from each other, so we’re essentially in our own lane and always respect the other’s opinion when it comes to their wheelhouse. We’ve also made a commitment that if our company ever jeopardizes any aspect of our relationship to the point where it is no longer healthy or sustainable, we reassess and are willing to even stop the business altogether. Read more>>

Tim Martinez

The majority of businesses in this country are small businesses. According to the U.S. Bureau of the Census, about 90% of American businesses are family-owned and operated. It’s estimated that 80%+ of a business owners net-worth is tied up in their business, according to the Exit Planning Institute. As baby-boomers retire from their businesses they are seeking out successors as a means for them to realize the equitable value locked up in their businesses. Read more>>

Lulu Carey

When I’m asked about what inspired me to start Sweetlove, the answer is always my sons, Joseph and Austin . They are my inspiration and biggest fans. Their support and passion for our small business is the reason why we keep going. Sweetlove is us, as a family and I love that they enjoy being part of this. Their willingness to help their mom in anything they can do, sometimes is very small tasks but they make sure that there is a part of them in this journey. Read more>>