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Is
your company destined to become another "statistic"?
Both the frequency of your accounting and the quality of the
records you keep can dramatically affect your company's survival
rate. Here are the statistics:
How
frequently you do your accounting can affect your company's
survival rate:
| Frequency |
Survival
Rate |
| At
Least Monthly |
79.7% |
| Quarterly |
71.5% |
| Half-yearly |
49.9% |
| Annually |
36% |
How
good your records are kept can also affect your company's
survival rate:
| Accounting
Records |
Survival
Rate |
| Excellent/Good |
63% |
| Average |
49.8% |
| Inadequate |
20.1% |
| Poor/Non-existent |
2.5% |
Source:
The Small Business Book; Robert Hamilton and John English
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