ASIC has information to help small business operators, including how to protect your small business. It is important to think through financial decisions and seek business advice from a trusted professional adviser.
ASIC also has resources for small business operators when companies are experiencing financial distress or trading while insolvent. There are also resources to help companies dealing with financial distress from the Australian Restructuring Insolvency and Turnaround Association (ARITA), Chartered Accountants ANZ (CA ANZ) and CPA Australia.
The Australian Government has introduced further insolvency reforms to help small businesses, to come into effect on 1 January 2021.
Banks are offering relief for small businesses affected by COVID-19.
When making decisions about your superannuation and other investments, consider your long-term plan, take your time and seek advice to make an informed decision. Moneysmart has more information about super investment options and accessing your super early.
If you are aware of any scams or bad behaviour, you can submit tip-offs, information of concern, and reports of misconduct via ASIC’s how to complain page.
Stay up-to-date on the latest small business information from:
- Australian Small Business and Family Enterprise Ombudsman
- Australian Taxation Office: JobKeeper and small business news
- Indigenous Business Australia
- state-based small business commissioners: Victoria, NSW, SA and WA
- industry associations: ARITA, CA ANZ, CPA Australia and Institute of Public Accountants (IPA)
- Australian Competition and Consumer Commission: protect yourself and your business by being aware of the common scams targeting small businesses.
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