Let's face it, family businesses are important to the economy. According to Forbes, family businesses are responsible for 60 percent of the jobs in the United States and 80 percent of the new jobs created. It is also estimated that family businesses account for 50 percent of the gross domestic product of this country.
Businesses big and small are almost always looking for new ways to grow into successful companies. While many small businesses may think that mergers and acquisitions are only for large corporations, they should know that this is not always the case. Small business mergers are an important way that many companies choose to grown and fulfill their business goals.
As reported in a previous blog post, New Jersey's Knight Capital Group has struggled financially since a computer error cost the company $460 million. In December, it was rumored that Knight was looking to be acquired by a larger more financially stable company following a short term deal with other investment companies that helped to keep the firm afloat.