Ensuring that business operations remain transparent and fair for all individuals looking to start their company, is necessary for any properly functioning economic system. The AFCA, a recently established institution that aimed to bring about transparency and equality for all in the small business sector, is just one recent initiative taken by the Australian government to ensure that the small businesses in play are not overtaken by larger competitors, and to bring about a more level playing field for those who are just starting to take their place in the business industry.
- One bill is being hailed as a landmark piece of legislation these days. Small businesses may benefit from the legislation to a significant degree as well.
- People need to take note and follow the AFCA as it makes its way forward. That could signal some important changes that need to take place for people.
- A spokesman has left some comments and insight regarding the legislation itself. That could impact small businesses who play a vital role in various ways too.
“The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has welcomed the Government’s landmark move to establish a new one-stop-shop to resolve small business disputes with banks – the Australian Financial Complaints Authority – AFCA.”