Competition law reforms to help small businesses gain the advantage | ALC Training News
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Traditionally, it has often been difficult for small business to keep up with larger corporations, as they don't have the same resources available to them to make them competitive.
However, the recent announcement of changes to Australian competition law is likely to give small businesses a much needed boost, allowing them to gain a more prominent position in the market. Subsequently, smaller companies looking to take advantage of the reforms may be looking for ways to bolster their competitiveness by enhancing their use of IT services though training such as ITIL certification.
Small businesses make up 97 per cent of the Australian market.
Australian competition law up for change
With around 97 per cent of all Australian companies being small business, the announcement by the Turnbull government that they will be reforming competition laws is very significant to the Australian market. The changes are intended to prevent large organisations from engaging in activities that give them an unfair advantage, and thereby promote competition and diversity.
Deputy Prime Minister Barnaby Joyce said that this is a welcome change for small businesses around the country.
"These reforms will address a long-standing weakness in the existing competition rules and will ensure that we have a more transparent and competitive marketplace that treats all supply chain participants fairly," he said
"Importantly, and for the first time in Australia, the Australian Competition and Consumer Commission (ACCC) will have meaningful provisions to protect businesses that have been subject to misuse of market power."
The reform is set to prove several benefits for small businesses including better access to dispute remedies, a review of competitive neutrality guidelines, an improved bargaining position and a consideration of the results of anti-competitive guidelines.
With the changes resulting in a positive outlook for small businesses, this creates a prime opportunity to embrace resources like IT to help them to further their level of competitiveness.
How can IT skills give small businesses a competitive edge?
According to the Houston Chronicle, IT can help to provide a competitive advantage because companies can use technological developments to make their products more innovative and unique, and they can reduce costs by promoting efficiency and productivity. In addition, workload automation can help small businesses to overcome the boundaries of a limited budget and resources.
However, in order to get the best results from their technology, small businesses should consider giving IT project management training to their professionals. This can help them to be most effective in the implementation and utilisation of technology, and make them more competitive in the long term.
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