Many industries have specific regulations that apply to businesses who operate within it. Regulations can be both state-based (in that they only apply to particular Australian states or territories) or they can apply Australia wide, and they may sometime require that certain businesses have a licence or permit in order to operate.
- Businesses that service alcohol may require a liquor licence.
- Businesses that provide therapeutic goods may be subject to TGA requirements.
- The building and construction industry has National Construction Code.
- Financial services businesses may be regulated by APRA.
- Telco businesses may have to comply with the Telecommunications Act 1997.
- Manufacturing businesses need to comply with product safety laws.
If regulations specifically apply to your industry, it’s really important that you are on top of them, as they may have a significant impact on your business operations or your business model and can be crucial for your business’ success.