By Dr Michael Schaper, ACCC Deputy Chair
After a successful career in the Defence Force, running a small business is a dream for many people. Some background knowledge in competition and consumer issues is a great way to prepare for the reality of being your own boss.
What can — or can’t — I say in my advertising and marketing? What are the rules about trading online? When do I have to give a customer a refund? What happens if a wholesaler refuses to deal with my new business?
All of these, and many other issues, are covered under the Competition and Consumer Act 2010.
Previously known as the Trade Practices Act, it covers most of the general requirements for firms in their business-to-business and business-to-consumer dealings.
Misleading or deceptive conduct, mergers and acquisitions, misuse of market power, and unconscionable conduct are just some of the many issues it covers.
The Australian Competition and Consumer Commission has developed a free online education program to help new and existing small business owners better understand their rights and responsibilities under the Act.
There are ten topics covered, and you can do as many or as few as you choose. The program modules cover everything from how to avoid scams to competing fairly and selling safe products.
It doesn’t matter whether you know a little or a lot about the law. The flexible program allows you to pick the most relevant topics. Best of all, you are free to log-on and complete a module at any time of the day, making it perfect for busy people with crowded schedules.
The ACCC is confident the program provides a practical understanding, so that as a new business owner you can do the right thing by your customers. It will also help small firms know whether competitors and suppliers are doing the right thing by them.
The competition and consumer law education program for small businesses is available at www.ccaeducationprograms.org. If you need more information, contact the ACCC at our dedicated small business helpline on 1300 302 021.
This article was published in the July edition of the ADF Financial Services Consumer Council You and Your Money