Legal Considerations

Business owners establishing an SME must comply with relevant laws that apply to their particular industry and broader laws that apply to all businesses.

The business owner is responsible for the operations of their firm and they should know all laws; in case of breach, the owner may face fines (cost), criminal proceedings or the loss of their trading licence / role as director.

The use of a solicitor will help an SME owner to comply with all laws. Permits and approvals may be required for business operations. 

All businesses must:

• Have an Australian Business Number (ABN); 

• register the business name with the Australian Securities and Investments Commission (ASIC); 

• comply with Fair Work legislation; 

• adhere to all requirements of Corporations Law (if incorporated).

• Ensure zoning regulations are adhered to in the selection of their business location.