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1. Business registration and structure: Small businesses must register with the Australian Securities and Investments Commission (ASIC) and choose a business structure, such as a sole proprietorship, partnership, or company. 2. Taxation: Small businesses are subject to a range of taxes, including income tax, Goods and Services Tax (GST), and payroll tax. They must also register for GST if their annual turnover exceeds a certain threshold. 3. Employment: Small businesses must comply with the Fair Work Act 2009, which sets out the minimum wages and conditions of employment for all Australian workers. 4. Consumer protection: Small businesses must comply with the Australian Consumer Law (ACL), which protects consumers from unfair practices and misleading or deceptive conduct. 5. Workplace health and safety: Small businesses must comply with occupational health and safety laws, which vary from state to territory. 6. Environmental protection: Small businesses must comply with environmental laws, which regulate activities such as waste disposal and pollution control. In addition to these general laws, there are also a number of laws that specifically apply to certain types of small businesses, such as those operating in the food and beverage industry or the retail sector. It is important for small businesses to be aware of the laws that apply to them and to comply with all applicable requirements. Failure to comply with the law can result in penalties, fines, or even imprisonment.

1. Develop a business plan: This will help you define your business goals and strategies, and it will make it easier to attract investors and secure funding. 2. Manage your finances effectively: This means tracking your income and expenses, and making sure you have enough cash flow to cover your costs. There are many tools and resources available to help you manage your finances, such as accounting software and financial advisors. 3. Secure adequate funding: There are many different ways to secure funding for your small business, such as personal savings, loans, grants, or crowdfunding. The best way to find funding will depend on your business needs and financial situation. 4. Seek professional guidance: There are many experienced business professionals who can provide you with advice and support, such as accountants, lawyers, and business consultants. Their expertise can help you make sound decisions and avoid costly mistakes. 5. Embrace technology: Technology can help you streamline your operations, reach new customers, and grow your business. There are many different tools and technologies available, so you can find the ones that are right for your business.