![]() Given the rise in industrial businesses, the need for bookkeeping services is fast-growing in Nigeria. Therefore, companies rely on bookkeepers, not just for sake of operating the software tools used for bookkeeping but also for analyzing available data and suggesting ideas and solutions as needed. This means that these processes rely entirely on computers and there’s always the problem of fraud and security breaches. In most parts of the world, 50% of accounting processes are automated. Countries such as Germany, Brazil, USA, China, the United Arab Emirates and South Africa are very fertile grounds for bookkeeping practices, thanks to the high concentration of small and large modern businesses. ![]() In 2019, the bookkeeping market value was placed at about $424.18 billion with clear indications that the value could grow at about 6.6% CAGR within 20. Accounting, auditing and bookkeeping are services that dominate the present global market. Bookkeeping holds the second-largest number of professionals in the accounting sector. About 42% of businesses receive business advice from their accountants, and 14% of these businesses outsource their bookkeeping. Over 95% of businesses today are, in fact, small enterprises, and 60% of them acknowledge that they don’t know enough about finances and bookkeeping, as they thought they did upon starting the business. How To Start A Lucrative Bookkeeping Business In Nigeria Or Africa: The Complete Guide | Image: Pixabay
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