Essential tips and tools for small businesses

Transcription

1 Essential tips and tools for small businesses ASIC, FWO, ACCC and ATO in conjunction with BEC Australia and Small Biz Connect tell you the key things you should know in a free interactive webinar DATE: WEDNESDAY 22 OCTOBER 2014 TIME: PM AEDT

2 Essential tips and tools for small businesses 22 October 2014 Brett Bassett Regional Commissioner- Queensland Senior Executive Leader, Small Business Compliance & Deterrence

3 Australian Securities and Investments Commission Who is ASIC? ASIC is an independent Commonwealth government agency ASIC regulates companies, financial markets, financial services, credit industry and professional who provide investment and financial advice 3

4 ASIC s priorities Key function of ASIC is to protect the Australian economy by: Ensuring investors and consumers are informed and confident Ensuring markets operate fair and efficiently, and Providing efficient and accessible registration 4

5 ASIC small business resources ASIC resources for small business: Booklet - Your obligations as a small business operator Small business hub - ASIC Business Checks App YouTube tutorial videos - 5

6 Small business support For more information please visit ASIC s website: 6

7 TOP FIVE TIPS FOR EMPLOYEE MANAGEMENT Fair Work Ombudsman - Joint agency webinar Date: 22 October 2014 Presented by: Robert Hortle Director of Small Business Strategy & Campaigns

8 SMALL BUSINESS Time pressures Knowing where to start is the first challenge 5 tips to assist with your workplace relations 8

9 TIP ONE INVEST IN RECRUITMENT Invest time and plan recruitment processes Hiring Guide and Hiring Employees online learning module Determine aspects and clarify expectations of the role 9

10 TIP TWO INVEST IN FORMAL TRAINING Business sometimes needs professional expertise FWO has developed a range of online courses AND DEVELOPMENT Managing Performance Difficult Conversations in the workplace 10

11 TIP THREE INVEST IN WORKING ARRANGEMENTS THAT SUIT YOUR BUSINESS Benefits associated with flexibility in your business Individual Flexibility Agreements Flexible Working Arrangements 11

12 TIP FOUR INVEST IN SORTING OUT ISSUES WHEN THEY ARISE Be proactive and work through the issue Approach us in the first instance You can get on with running your business 12

13 TIP FIVE INVEST SOME TIME IN PROACTIVELY SEEKING OUT THE FWO S TOOLS AND RESOURCES Services to assist you Save yourself distress down the track We want to help you get it right 13

14 REMEMBER Invest in the employment relationship Actively engage with the FWO We want to resolve issues and promote cooperative workplaces 14

15 THANKYOU Robert Hortle Director of Small Business Strategy & Campaigns

16 Selling Your Goods & Services: The Golden Rules of Advertising & Pricing ACCC Deputy Chair Dr Michael Schaper Joint webinar: Essential tips & tools for small businesses Wednesday 22 nd October 2014

17 Avoid Misleading or Deceptive Conduct Can include activities or behaviour such as: Lying Leading customers to a wrong conclusion Creating a false impression Leaving out (or hiding) important information Making false or inaccurate claims Reduce the risk of misleading consumers: Sell goods and services only on their merits Be honest about what you say and do Look at the overall impression of your advertisement what will a typical customer think or believe?

18 Component Price Advertising You should always display the total price of a product or service. Prices displayed by a business must be clear, accurate and not misleading to consumers. You must not show a price that is only part of the cost, unless you also prominently advertise the single (total) price. The single total price must include any tax, duty, fee, levy or other additional mandatory charges (e.g. GST or airport tax). This single price is the minimum total cost that can be quantified (or calculated) at the time. $40 + fees and charges $40 + $3 booking fee + $4.30 GST = $47.30

19 A Problematic Example

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21 Example Imposing Minimum Resale Prices Retailers should be free to set their own prices. It is illegal for suppliers to: put pressure on businesses to charge their RRP or any other set price (e.g. by threatening to stop supplying to firm) stop resellers from advertising, displaying or selling goods from the supplier below a specified price There is nothing wrong with suppliers using a RRP list - as long as prices on that list are really just recommended (not enforced!) In August 2011, AquaDepot Imports admitted to engaging in resale price maintenance by ceasing to supply an online retailer who discounted aquarium products below a specified price.

22 Key considerations Was / Now Advertising Ensure you don t mislead potential buyers Would a consumer have paid the was price for a reasonable period before the sale? What is reasonable will depend on the type of product or market and usual frequency of price changes. Savings must be genuine: statements are likely to be misleading if the product had not been offered for sale at the was price Using was/now pricing, where there were very little or no sales at the was price, is likely to be risky

23 Price-Fixing & Cartels Arise when firms agree to act together instead of competing Can be a contract, arrangement or understanding Many possible forms of cartel conduct: price fixing sharing markets/dividing up markets rigging bids limiting amounts of goods/services available Exceptions for joint ventures Major priority for ACCC Steep penalties: For individuals - maximum 10 years jail, fines of up to $340,000 (criminal offence), $500,000 (civil). Corporations - $10 million OR 3xtotal value of the benefits obtained OR 10% of turnover.

24 Golden Rules for Advertising & Pricing Truth in advertising is not just a slogan it s the law Work out what impression your advertising claims are making in the mind of a typical customer Be upfront: Always display the total price of a product or service The law applies to all promotional activities, including online Set your own prices: Don t fix prices, share markets, restrict output or rig bids

25 Need More Small Business Info? Helpline: Websites: Small Business Info Network: To sign up, your contact details to

26 Essential tips and tools for small business Judy O Connell Assistant Deputy Commissioner Small Business/Individual Tax Australian Taxation Office 22 October 2014

27 Small Business Assist Small Business Assist provides easy access to information and tools 24/7 that can help small businesses meet their obligations. It has information from a range of websites to answer questions on business tax and superannuation. You can book an after-hours call back online at a time and day that suits you. From October you can talk to us online through web chat. Visit to find out more Essential tips and tools for small businesses 27

28 Small Business Newsroom The Small business newsroom will be the one stop shop for small business tax news Key events and important date reminders will be provided and tailored to the small business users circumstances Essential tips and tools for small businesses 28

29 Small Business App The ATO small business app is available from App stores and it provides services for small businesses that include the ability to: determine if a worker is an employee or contractor for tax and super purposes search Small business assist to find information on a range of topics book an after-hours call back see how quickly a tax debt can be paid off with a payment plan Provide feedback Super tools and calculators Fuel tax credit calculator You can access details of the app via our website - ATO-App Essential tips and tools for small businesses 29

30 Small Business Panel The ATO is inviting Australia s small business owners to apply to join our Small Business Consultation Panel. If you have 2 years experience in owning or operating a small business then we want to hear from you! By consulting directly with small business owners, we can make it easier for you to interact with government so you can get back to the important job of running your small business. If you are interested in joining the panel, send an to smallbusinessconsultation@ato.gov.au for an information pack. Boosting our small business expertise Essential tips and tools for small businesses 30

31 Essential tips and tools for small businesses ASIC, FWO, ACCC and ATO in conjunction with BEC Australia and Small Biz Connect tell you the key things you should know in a free interactive webinar DATE: WEDNESDAY 22 OCTOBER 2014 TIME: PM AEDT