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5.3 Small business engagement and compliance

ASIC’s Small Business Engagement and Compliance team focuses on and coordinates ASIC’s initiatives to assist, engage and help protect small businesses to ensure a strong and healthy economy for all Australians.

Engaging with culturally and linguistically diverse small business communities

ASIC recognises that many small business owners in Australia speak languages other than English. This year, we undertook a pilot project in Victoria for culturally and linguistically diverse (CALD) small businesses to address the harm that may arise when small business owners do not understand or fulfil compliance obligations due to language or other barriers.

Focusing on small businesses in the Arabic, Chinese and Vietnamese communities, we worked with the Victorian Multicultural Commission and the Ethnic Communities’ Council of Victoria to engage with CALD small businesses. We published Small business resources in other languages on our website and translated our Running a small business in Australia: What you need to know booklet into Arabic and Vietnamese, alongside the existing Chinese version. Together with the ATO and the Victorian Small Business Commission, we delivered small business workshops in community languages.

This initiative demonstrated how ASIC, other government agencies, and stakeholder groups effectively work with CALD business owners to understand the barriers to accessing information and how to overcome those barriers. We have seen increased engagement with our Running a small business in Australia: What you need to know content and more people using the Translating and Interpreting Service to communicate with us.