SBDC e-news – September 2017
Last year, we saw the emergence of new laws and industry codes of conduct addressing the power imbalance between big and small businesses, in contracts and other business collaborations. Some of these new codes are voluntary rather than mandatory but they’re a step in the right direction.
More recently, amendments to section 46 of the Competition and Consumer Act 2010 (CCA) which addresses the imbalance of market power between businesses, were passed by the federal parliament in August 2017.
In short, these amendments make it harder for corporations with substantial market power from ‘engaging in conduct which has the purpose, effect or likely effect to substantially lessen competition in markets in which they directly or indirectly participate’.
As strong advocates for small business and having pushed for these changes, we welcome this reform, and the overall effect it will have on creating and supporting healthy competition in the market.
See more information on the misuse of market power and how to report misconduct to the Australian Consumer and Competition Commission (ACCC).