Starting a Business
8. Regulation of Businesses
Authors: Staff Legal Eagle
Firm / Chambers:
Last updated: 24 Sep 2015
- Depending on which structure you choose for your business you will be subject to different regulatory frameworks. For example:
- sole traders are governed by the same regulations throughout Australia;
- legislation regulating partnerships or trusts varies from state to state; and
- all companies are regulated at the national level by the Corporations Act 2001 (Cth).
- The regulations set out the rules for each type of business structure.
- Regulations provide guidelines on what obligations the business principals have such as:
- how the business must be run;
- what insurances must be obtained; and
- how unsatisfied customers or members of the public can obtain remedies from the business.
- Different regulations may apply depending on:
- the type of industry you work in;
- whether you employ staff;
- whether you are providing products or services to the public; and
- the kind of activities that are required to set up your business premises.
- All states and territories are responsible for:
- business permits;
- licenses;
- certificates; and
- other registrations.
- These things may vary from state to state and will vary from industry to industry.
- Local councils will also require you to apply for permits in certain situations particularly in relation to:
- business premises;
- zoning;
- health regulations; and
- planning applications.
- It is important to be aware of the existence of these regulatory frameworks and to seek advice on how they will apply to you when you establish your business.
- A lawyer will be able to explain the specific aspects of these regulations that apply to you and your business and how you can ensure that you meet your obligations. You can use our free Find a Lawyer directory to contact a lawyer near you.
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