Industry Update

Small business? ASIC wants to hear from you

The Australian Securities and Investments Commission (ASIC) is conducting a survey of small business owners, which will close on 21 December 2012.

ASIC reports that small businesses account for 96 per cent of all businesses registered and collectively employ half the Australian workforce.  ASIC acknowledges that all businesses have numerous legal obligations imposed on them. However, unlike large businesses, small businesses may not have the same ability to comply with these legal obligations. Therefore, ASIC is committed to reducing the regulatory burden imposed on small business by making it easier to access information about their compliance obligations and make it easier to comply.

To help ASIC better understand the needs and expectations of small businesses, it is conducting a survey that will allow it to improve communication with small business about their legal obligations.

Businesses are not required to identify themselves when completing the survey and takes about five minutes to complete.

To participate, click here.

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