Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business VCE Year 11 Business Management Unit 1 Learning Outcome 2 VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Compliance with key legal and government regulations Concept: Corporate citizenship Social Responsibility Business Registration All business in Victoria are required to be registered with Consumer Affairs Victoria and hold a certificate of business registration. A Company is required to be registered with Australian securities and investment commission (ASIC) A domain name for the business is also recommended to be registered when setting up a business VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Compliance with key legal and government regulations Local Government by laws Building and planning Residential Light Industrial Heavy Industrial Retail Commercial Other by-laws affecting small business: - Parking- Outdoor activities - Time of operation- Health Regulation VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Compliance with key legal and government regulations Occupational Health & Safety Laws - OHS laws aim to prevent accidents in the workplace. An Employers OHS Obligations are: - a commitment to a safe workplace - to involve all workers in the development of OHS Policy - To communicate the OHS Policy to relevant parties - to provide training in OHS procedures and processes - to regularly monitor compliance and review policy VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Compliance with key legal and government regulations Occupational Health & Safety Laws Areas to consider within OHS: - Handling of asbestos - toxic substances - HIV and Hepititus B - Overuse syndrome (injuries) - chemicals - noise - machinery - manual handling ACTIVITY 7.2 VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Compliance with key legal and government regulations Employment Laws - Superannuation (9.25%) - Workers Compensation - Employee relations (Fair Work Australia) - minimum wages - enterprise bargaining - industrial action - dispute resolution - termination of employment ACTIVITY 7.3 VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Compliance with key legal and government regulations Equal opportunity, anti discrimination, and sexual harassment legislation - Anti discrimination laws - Affirmative action laws - Federal sexual harassment legislation VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Compliance with key legal and government regulations State government laws regulate trading hours different business will have different trading hours different areas and business hours are determined by laws. Environment protection laws: Environmental Protection Authority (EPA) responsible for: - Noise - Waste discharge - use of toxic substances - emissions into the environment VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Compliance with key legal and government regulations Consumer Protection laws ACTIVITY 7.5 VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Compliance with key legal and government regulations Privacy Taxation Australian Taxation Office ABN (Australian Business Number) TFN (Tax File Number) GST (Goods and Services Tax) Payroll Tax Workers tax on salaries VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Compliance with key legal and government regulations Insurance Risk assessment – reduce the risk/effect of loss Types of potential insurance Workers compensation Motor vehicle 3 rd party Product Liability Personal disability Loss of profits VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Compliance with key legal and government regulations Business Licences, permits and approvals Licenses, permits or approvals may be obtained for businesses in the following industries: - Food handling - selling alcohol - playing music - outside dinning (footpath etc) VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Human and Physical needs of a business It is an ongoing cycle required to meet the needs of a business, some things that need to be considered include: - Sourcing required resources, materials, equipment, labour - negotiate the purchase or leasing arrangements - maintain supplier relationships - arrange for servicing plant and equipment - replacement of resources once useful life has expired - VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Human and Physical needs of a business Work force planning this involves forecasting the future demands for employees and taking steps to ensure the demand is met - using the Human resources department or employment agencies - Developing policies and procedures to: - Employ staff - train staff - motivate staff - deal with seasonal workers - monitor staff turnover and assess reasons VCE Business Management Year 11

Chapter 7 – Major Planning Decisions Throughout the Life of a Small Business Financial Planning The need for Business Finance Raising Finance VCE Business Management Year 11