The Australian Bureau of Statistics has produced a fresh set of data on business entries and exits, which provides a new view of the success of finance firms.
The
latest count found that new entrants in the "finance" sector of the economy often fail to stay in business for long, with only around 50 per cent surviving the first four years.
An ABS review of business entries and exits put the survival rate for businesses established in 2008/09 at between 47.9 per cent and 50.5 per cent in the Australian mainland states.
Earlier estimates, released in May, suggested a more favourable experience, with new businesses operating in or around the fringes of financial services being found to be more resilient than the average business during the era of the GFC.
The ABS then estimated that 59 per cent of all firms operating in financial and insurance services that started trading in 2008 were still in business in 2012. For financial corporations, which were defined more narrowly, the survival rate was 60 per cent.