The Australian Securities and Investments Commission has launched a new website to help small business owners understand their legal obligations and the role of the regulator.
Small businesses account for 96 per cent of all businesses registered with ASIC, making it imperative for the regulator to play a key role in the provision of relevant information to business owners, said ASIC commissioner Greg Tanzer.
He cited the results of a recent survey which showed small business owners had limited knowledge about ASIC and what it does; little understanding of their compliance obligations; and found it difficult to understand information provided by ASIC because it contained a lot of jargon.
Tanzer said the new website was a hub that acted as an “information gateway and was designed to improve small business experiences with ASIC” and help owners understand how ASIC could help them.
The hub is available at www.asic.gov.au/small-business.
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