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Only around 60% of new entrants to the finance industry survive the first four years - and those operating in the ACT are most likely to fail, according to the latest ABS Counts of Australian Businesses, including Entries and Exits report.
The research found ‘non-employing’ businesses were least likely to survive, with an exit rate of 16.2%, while those employing 20-199 people faired the best with an exit rate of just 4.7%.
Businesses classified under the 'financial corporations' sector had the largest entry rate at 13%, followed by 'non–financial corporations' (12.6%) and 'households' (11.5%).
The survival rates at June 2012 for businesses operating in June 2008 were highest for non–financial corporations (67.1%), followed by financial corporations (63.9%), and households (59.9%).
