COSBOA Conference - What is ASIC doing to help small business?
A speech by Greg Tanzer, Commissioner,
Australian Securities and Investments Commission
Council of Small Business Australia (COSBOA) Conference
Sydney, 17 July 2015
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Thank you for the opportunity to speak with you all.
As mentioned, I’m one of ASIC’s Commissioners with responsibility for a range of stakeholders, including small business.
I think it is important to start by saying that if I had been asked to speak to you about what ASIC is doing to assist small business five years ago, it would be quite different from what I will talk to you about today.
The first and most obvious difference is that ASIC now has a dedicated team responsible for our engagement with and regulation of small business.
This team was established in July 2013 and is very focused on engaging with small business operators and supporting small and medium enterprises (SMEs). We also work closely with industry and professional associations and intermediaries to better engage with small business operators.
The second difference is that we are engaging with small business in a proactive manner. Being able to speak directly to business owners at events such as this allows us to not only tell you what we are doing, but to also seek feedback on what you think we should be doing more of.
The third big difference is that we are working much more closely than ever before with the Australian Taxation Office (ATO), the Australian Competition and Consumer Commission (ACCC), the Fair Work Ombudsman and other Commonwealth agencies on small business problems.