Before signing up to the world of small business make sure you are fully informed about your rights and responsibilities.
In Perth today to meet with industry bodies and small business related agencies, Australian Competition and Consumer Commission Deputy Chairman, Dr Michael Schaper, said prospective small businesses owners should get to know their rights and obligations under the Trade Practices Act 1974.
"WA currently has some 204,000 businesses in existence and trading, with more looking to get up and running.
"For example, many people are considering buying a franchise, since it can provide a proven business operating system and a lower risk than starting a new business from scratch.
"The ACCC administers the national Franchising Code of Conduct, which provides important protection for new franchisees, and a mechanism to sort out disputes which might emerge," Dr Schaper said.
"If you are thinking about starting up a small business it's a wise move to talk to your local business advisor or call the ACCC directly for a copy of the small business start-up checklist and franchising information."
Dr Schaper said new and established WA small businesses can also avoid unfair practices, particularly in times of a potential market downturn, by finding out more about the Act.
"When there is a greater incentive to cut costs, it is important small operators know where they stand in dealing with other businesses and customers.
"Small businesses need to be vigilant that they don't fall victim to unconscionable dealings by larger suppliers and franchisors which may be feeling the pressure of the current economic climate.
"Equally, small businesses feeling the pinch must not cut corners by being less than truthful in their advertising and dealings with customers.
"All too often, many small operators are still unaware that it is illegal to enforce fixed prices, or make unsubstantiated green claims. When this happens, both small firms and consumers lose out.
"If you suspect another firm is using unfair market power to your detriment, don't hesitate to call your local business advisor or the ACCC," Dr Schaper said.
"Between 2005-2008, the ACCC recovered almost $2.7 million on behalf of small businesses and consumers across the country."
The ACCC operates a Small Business Helpline on 1300 302 021 and a dedicated section on its website which includes a small business resource centre. This is available in the For Business section at www.accc.gov.au.
For media inquiries to the ACCC Deputy Chairman, Dr Michael Schaper, please call Ms Lin Enright, ACCC Media, on (02) 6243 1108 or 0414 613 520 or Western Australian Regional Director, Mr Sam Di Scerni on (08) 9325 0600.
For general inquiries on small business, please call 1300 302 021.
To receive information on issues of interest to you, please go to www.accc.gov.au, click Media Centre, news releases and enter your email address under Notify me.