Search engine guru's will tell you that it should be everyday. While some businesses will update the site all day each day with new product material, news and other updates this is not feasible for some, particularly small business websites. At the end of the day, it depends on your business.
If you have a large range of products that change frequently, then we'd recommend that you update the site at least weekly if not daily.
If you are service oriented, then we'd recommend every couple of days. Industry sector's such as health, finance, IT and other professional industries tend to have a continuous stream of news, industry updates and trends available that can be reported and commented on.
If you can't update your own site, consider placing content on other sites in the form of articles, commentary, blogs, tweets, diggs etc.
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