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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