Thanks for signing up to access our Legal Obligations Toolkit. I’ll start this with a disclaimer. This toolkit is not designed to take the place of specialist legal or professional advice. Even though these references are good, it’s really important to know they don’t replace talking to experts like lawyers, consultants and professionals. Getting advice means that you’re more likely to be doing things right and following all of the rules that you need to protect your business.
If you are up to this stage then you must be pretty close to actually launching your business. Or you have been in business a while and are looking at doing a bit of a brush up to ensure that things are still on track. Whichever it is, getting the legals right is one of the most important foundation aspects of setting up and running your business.
You don’t want to build your business up to lose it. And you can go a long way to protecting your investment by planning ahead. Here’s a few resources to help get you started.
We cover these in Chapter 8 of the guide which outlines your legal obligations and the steps you can take in protecting your business. Just in case you don’t have it yet, here is your access the complete guide on ‘How to Start a Small Business in Australia’.
Most of these are links because we want you to be up to date with the most current information.
1 – Australian Consumer Law
[LINK] Australian Consumer Law – Small Business Self Assessment Checklist
This can help you understand which parts of Australian Consumer Law may apply to your business and is put out jointly by the states.
2 — Cyber Security
[LINK] Australian Cyber Security – Small Business Cyber Security Guide
This is an area of risk in your business that is becoming increasingly important. Especially given the mandatory reporting requirements for a breach, not counting the reputational risk of having data stolen or hacked.
Use this guide to access information about how to protect you and your business online. This guide was developed to help small business owners protect themselves from the most common cyber security incidents. There are a number of simple measures that you can implement that will avoid or reduce the impact of these more common incidents.
3 – Information Commission – Privacy Requirements
[LINK] Office of the Australian Information Commissioner – Privacy Checklist
[DOWNLOAD] Bee Group Accountants – Privacy Checklist for Small Business
The download is our PDF version of the Privacy Checklist from the Office of the Australian Information Commissioner. It is a 15 point self assessment checklist to see whether the privacy provisions apply to your business.
4 – Australian Business Licence and Information Service (ABLIS)
This website provides a guided search that uses information that you enter into their site to find the licences and information you might need for your business. It provides information on State, Territory, Local and Australian Government licencing requirements:
- licences
- permits
- approvals
- regulations
- codes of practice
This website should not be relied upon solely as a complet list of all Industry, Code or Standard requirements that may apply to you so always be sure to confirm all information.
5 – Intellectual Property
Intellectual property such as patents and trademarks are an incredibly important part of the intangible assets for any business now. This is the formal way to protect the value of your ideas. IP Australia is the Government agency that administers intellectual property (IP) rights and legislation for patents, trade marks, design rights and plant breeder’s rights (PBR).
This is an area where you may need the help of a registered legal practitioner. With trademarks it’s about determining the correct class for registration. With patents that is a whole area of specialty and you will have to engage registered Patent Attorney. You can find a practitioner on the IPTA site.
6 – Fair Work Australia
Fair Work Australia (Full Site)
If you are going to hire anyone as an employee then become familiar with the Fair Work Australia website. A key aspect of any employment is being explicitly clear about the Award that you are hiring under. It is in this regard that you may require the expert assistance of a legal practitioner.
Fair Work Australia is Australia’s workplace relations tribunal and registered organisations regulator. They make awards, approve enterprise agreements and help resolve issues at work.
The employer obligations for Pay and Conditions can be found here: [LINK] Fair Work Pay and Wages (General Information)
The Fair Work Pay and Conditions tool, which is an online pay calculator can be found here: [LINK] PACT
We also have an additional resource that you can access relating to payroll onboarding for your new team member. It can be accessed here [LINK] ‘New Employee Toolkit’
7 – Shareholders Agreements
[DOWNLOAD] Bee Group Accountants – Shareholder Agreement Checklist
If you are going into business with other people, you will absolutely want an Agreement of some sort. If it is a company, you will be looking for a Shareholders Agreement. If it is a partnership, it will be a Partnership Agreement. Even though this checklist is specifically for companies, you could also use it as basis for discussion for any multi-party arrangement.
Establishing a Shareholders Agreement ensures that you are securing and protecting the future of your business. The Shareholders Agreement is a key document that sets out the relationship between the shareholders and the directors of the company. This agreement is what will be referred to when making important decisions about the company.
Shareholders agreements are a living document and will need to be drafted by a lawyer to evolve with the business as it grows.
Every business is different and as such the Shareholders Agreement will need to be customised by a lawyer who is experienced in commercial law. As an accounting firm, we have prepared the download to be used to take notes to kick-off constructive discussion between prospective parties. It is designed to be neutral but allow you to bring up potentially ‘hard’ topics so that you can all be on the same page. This is so that you have already considered various matters prior to engaging with a legal advisor.
A Note about Government Websites
General government websites deserve their own special mention. This is because Governments at all levels publish information on their websites and seem to think that the mere act of publishing means that you should be aware of all of the matters that are relevant to you. This is why engaging with a qualified professional can be a cost effective way to cut through the noise.
A professional can also help you see other matters that may interact with your business that you might not otherwise be aware of. They are a great investment.
When doing research it pays to print (or download) any of the material that you intend to rely on or reference.
How to Start a Business in Australia
Have you read through the guide but would like to learn more about just how to get your business started? Then keep an eye out for our workshop on How to Start a Small Business in Australia. You will find upcoming dates in the Events section of our website.
This workshop is a hands-on, guided implementation of all of the steps in the Complete Guide with hints, tips, tactics and strategies all there to help you shortcut the path from idea to market. These are run in-person and also online. There are minimum numbers for the event so if you are interested just get in touch and let us know.
Connect with Professionals
Connect with us in the in the Everything Small Business facebook group where you will be able find recommendations and connect with just about anyone you need.
Here you’ll be able to connect with Professional service provider who can help you with any questions or matters.
Work with Us
We believe that you can use your business to create the life that you want. If you would like to get to know us better and take a look at what we do, then come to one of our welcome events or book in for a personalised consultation. Here’s 3 ways we can help:
Book an Appointment or Attend an Event
Bee Group Accountants offers affordable service packages where you can work with us one-on-one to help you get your business where you want it to be. Book your Discovery Call to find out more.
Contact us on (07) 55015765 or make a booking request here .
Disclaimer – Nothing on this page constitutes personal advice, please refer to our Term and Conditions. If you are looking for tailored advice for your situation then please reach out to become a client. You should always do your own research before making decisions and engage the services of qualified legal and professional advisors.
