ASIC has on Tue 5.11.2013, launched an online hub to help small business owners and operators better understand their legal obligations and the role of ASIC. Small businesses account for 96% of all businesses registered with ASIC.
In 2012, ASIC consulted key stakeholders and conducted an online survey with small businesses to better understand their needs and expectations. This survey found that ASIC needed to engage more with small businesses because:
- they have limited knowledge about ASIC and what it does;
- they have little understanding of their compliance obligations and find it difficult to get relevant information from ASIC; and
- information provided by ASIC is often difficult to understand because it’s written in legal jargon.
The hub, which is available at http://www.asic.gov.au/small-business, features information on starting and closing a small business, legal requirements for small business operators, one minute guides on popular topics and access to ASIC’s new quarterly small business eNewsletter.
Source: ASIC release 13-303MR, 5 November 2013
[LTN 214, 5/11/13]