It's not easy being a family-owned business competing in a global marketplace, and often the rules, regulations, laws and tax-codes of both the state and federal government do not make it any easier. In fact, for many family-owned business all of this adds a level of complexity that can be very detrimental in a number of ways.
Hoffer Plastics is one of the U.S. plastics industry's oldest family-owned molding businesses, having been founded in 1953 by Robert Hoffer. Last year, I did a plant tour at Hoffer Plastics, and was quite impressed with what the second-generation has done to keep this business thriving and successful into the third generation. ...