Issues in Small Business Management Essay Example | Topics and Well Written Essays - 1750 words

Issues in Small Business Management - Essay Example Some of the initiatives taken by Australian government for small business growth include market study and identification of business opportunities in Australian markets for small entrepreneurs. This report emphasizes the importance of home based businesses in Australia that take up almost 67 percent of total small businesses in the country (Commonwealth of Australia, 2004). Many potential opportunities to start home based businesses in Australia have been provided to small business entrepreneurs in this document. Annual Review of Small Business series is another effort to provide comprehensive review of small business sector in Australia and develop a future outlook based on current performance. This report is published annually by the Department of Industry, Trade and Resources to facilitate small business development and growth. It provides case studies of small business organisations and also contains results of surveys conducted for small businesses across Australia. Other important contributions to small business sector include publications highlighting factors that should be taken into account while establishing small businesses; the areas where government support can be sought; best practices and guidance for small business managers to develop business plans; taxation structure; and other similar information that are usually required by all small business owners before starting on a new business and then to maintain a steady business growth. In short, the website provides a load of information targeted towards resolving all queries of small business sector companies. Another website where a variety of information is available is http://www.business.gov.au. References Commonwealth of Australia. (2004). Home Based Business - Local Opportunities [Online]. Available from: [Accessed August 20, 2007]. Department of Industry, Tourism and Resources. (2007). Office of Small Business - What we Do [Online]. Available from: [Accessed August 20, 2007]. Question 2. The Federal Privacy Act of 1988 was enacted to protect personal information of an individual from public disclosure without his/her approval. Effective from 21st December 2002, some small businesses including non-profit and unincorporated associations are required to comply with the Privacy Act (Federal Privacy Commissioner, n.d.). As per the information provided by the Office of Federal Privacy Commissioner, "any small business that: 1. trades in personal information; or 2. is related to a larger business; or 3. provides health service and holds health records; or 4. is a contractor that provides services under a Commonwealth contract" has to comply with Privacy Act of 1988. The Act requires small businesses to do the following key activities in order to ensure privacy of information: To inform people as and when their personal information is to be collected and its intended purpose. To ensure that the personal information is used only for the stated purpose it was collected for; or the consent from relative person has been obtained to use it for other purposes as well. To "pass on personal information only for the reason you collected it, or in ways people would think reasonable, unless you have consent or the