Impact of Australia’s Competition and Consumer Act 2010 on Small and Medium Enterprises

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Summary:

The Competition and Consumer Act 2010 (CCA) in Australia aims to ensure fair competition and protect consumer interests. While its primary focus is on protecting consumers, the Act's implications extend to business operations, particularly affecting Small and Medium Enterprises (SMEs). The Act requires SMEs to comply with transparency in pricing, quality assurance, and advertising regulations to avoid penalties. However, compliance can also be an opportunity for SMEs to establish trust and differentiate themselves in the market, ultimately allowing them to compete fairly with larger enterprises.