This is ASIC’s second small business survey, with the last survey (conducted in late 2012) resulting in the establishment of ASIC's Small Business Engagement team.
This team is focused on strengthening ASIC’s relationship with key stakeholders such as business advisers and industry associations and developing resources to help small businesses better understand their compliance obligations.
ASIC Commissioner Greg Tanzer said the survey will be used to benchmark ASIC’s work over the past 18 months and to further improve ASIC’s services in the future.
Small businesses account for 96 per cent of businesses registered with ASIC, so it is important for the regulator to understand the sector's needs and expectations, he said.
“It's important we know that the services and resources we're providing are what small businesses need. For example, has our recently released small business hub on the ASIC website helped small businesses better understand our role and their compliance obligations? Have we established and strengthened relationships where we need to?”
"Every response to our survey will help inform our work, shape our priorities and improve our services. We'll come back with our findings and details of the improvements we intend to make later this year,” Mr Tanzer said.
Stakeholders are invited to complete the survey on ASIC's website. The survey, which remains open until May 26, is anonymous and takes approximately five minutes to complete.