The Importance of Entrepreneurship in Australia and the UK - Coursework Example

Business regulation Name Professor Course Date Introduction The importance of entrepreneurship in a country is undisputable. Entrepreneurship is the most supported business entity in most countries. Governments were unable to create jobs for everyone; therefore they opted to support entrepreneurship. Consequently people are enabled to create employment for themselves and others. Creating a job for oneself carries many advantages. It ensures that one starts building their business immediately as opposed to waiting to find employment. Ones livelihood is based on their business; therefore they feel motivated and put all their efforts in the growth of the business. Starting a business can be done individually or in partnership. Whichever way it is done, regulations or policies should be followed to the letter. It is important to find out the legal issues surrounding the business one is undertaking. The legal matters range from issues of business registration, premises, taxation, product or service offered and even marketing issues (SMITH, 2007). Every country has laws and procedures involved in these systems. Therefore it is the responsibility of the entrepreneur to find out these procedures and follow them. Failure to follow the procedures may bring forth undesirable legal issues in future. It may also be extremely expensive to rectify these mistakes. On line business Revolution in technology not only affects industries but also business. The world is connected due to the development of the technology known as internet. Information reaches millions of people in very few seconds through the internet. Corporations have therefore not been left behind in this. They have embraced technology in carrying out their business. Both small and big companies have embraced e-commerce. The technology provided positive effects especially in terms of sales and marketing. Most companies have created websites and provided information regarding their products to people. On line business creates the awareness of services at a national and international level. A shop in one town is available to consumers throughout the country due to e-commerce. The provision to shop online is also possible. However, similar to other forms of business aspects, e-commerce is governed b its own regulations. These regulations require to be followed to legalise the existence of ones on line business. The first requirement is an address name. This is known as the domain name through which the business website is found (CLARK, 2008). Most Australian companies register domain addresses ending with ‘.com au’. The eligibility criteria and infringement of third party rights are two aspects of consideration in picking a domain name. The eligibility aspect requires the company with a ‘.com.au’ domain name to be and Australian registered company or carry an Australian trade mark. The similarity between the domain name and the business name is a requirement. However the domain name can also be an acronym of the business name or trademark. Once the eligibility is confirmed, the infringement aspect should be investigated. This is to ensure that the domain name does not infringe the rights of the trademark, company name or business name. This will ensure the business runs smoothly without running risks for name changes in the future. A web designer joins the process after a domain is confirmed. The web designer carries the ability to present the ideas and information needed on the website professionally. Considerations of different issues also require to be taken in this case. The infringement of third party rights is also a possibility in this section. Therefore the business owner and the web designer need to ensure that the information upholds the rights of the business name, trademark and other services offered by the business (CLARK, 2008). The rights of the information posted on the website require to be decided on. To avoid misunderstanding one should ensure intellectual ownership of the information on the web to ensure smooth running and changes in the future. However for new and young entrepreneurs whose business is still small, they can acquire a computer skill on web design. This saves them the cost of hiring an expensive expert especially if the web is for disseminating few basic pieces of information. The completion of the website is followed by the search of an internet service provider. The internet service provider needs to be efficient to avoid frequent downtimes. A hosting agreement should be drafted to ensure accountability of the service provider. The law also requires the company to host its website in an ISP with good security to safeguard the information of consumers and the company. In e-commerce the Trade practices Act of 1974 still requires to be respected. This means that there should be no false representation of the products or misleading information (CLARK, 2008). The law requires the company to represent the true state and condition of the product to consumers. The U.K The regulations in the U.K are more than just E-commerce based. A directive was introduced in the year 2002 to harmonise and clarify the online business rules in the entire Europe aimed at consumer confidence boosting. In this directive, all commercial websites are well covered by these regulations. In clear expression, all services offered with any sort of remuneration involved at a distance using electronic equipment, whereby data is either processed or stored after an individual request of such services. In the U.K, any electronic activities, as long as they qualify as economic activities are well covered by these regulations. This is especially on those firms that offer commercial communications like online advertisements and information (SMITH, 2007).A business which has its activities and dealings in the U.K, would find it very hard to escape these regulations by locating their servers elsewhere say for example California because they mainly do not look at the firms location. Emphasis in the enforcement of these regulations is laid on where the firms’ activities are based. The regulations and directives fail to address the situation under which one can get sued or sue. Nevertheless law that is applicable in case disputes arise is provided. More to that, these regulations and directives are not applicable to tax, lotteries or online gambling hence have no effect on cartel laws. The regulations can only apply if they are in relation with parliaments acts passed before E-commerce regulations were made, the date being 30th July 2002 (SMITH, 2007). In addition to this, the regulations must be related to power exercise to legislate before or on that date. E-commerce regulations in the U.K can be termed to be the most relaxed of all other regulations and directives in the whole of Europe. This is no doubt the reason why E-traders in the U.K are at an edge height above many others from all over the world. Comparatively evaluating the regulations involved in both Australia and the U.K, the e-traders in Australia are expected to meet more requirements hence making it slightly technical to venture in the market compared to the U.K. Australia and U.K Both of this countries implemented laws that encourage entrepreneurs to take their businesses on line. The enabling regulations enable a large number of people to be self employed and to employ other people. The laws to begin with are properly laid out. There is not much confusion in the laws. They remain straight forward and easy to follow. In Australia the domain and its acquisition is a simple process. The difference between the business name and trademark is clear. The same remains in the U.K. In both countries the government agencies provide their contacts on the internet as well as the process of application. It is therefore easy for entrepreneurs to access the information. The establishment of laws enable the entrepreneur to pay attention to certain points. For example, the rights of the intellectual information on the web are important. The law requires documentation of the legal processes hence future problems are avoided. Australia however imposes more strict laws especially on the documentation. The documentation required in putting up the website for example is extreme. A contract between the business and the web designer contains a lot of information (BRADGATE & WHITE, 2008). The right to intellectual information, copyrighting of the intellectual work, cost and information required on the web are among the requirements of the contract. An entrepreneur may get discouraged by the procedures of Australian regulation. The most common feature however may be the demand for security on the websites. Sometimes transactions require that consumers or clients provide personal information on the websites. Many consumers do so in believe that their information will not be shared with anyone else. A business therefore ensures that its website is hosted by a secure internet service provider. The website is under obligation to protect its clientele from hacking and illegal access to their information. The effectiveness of the regulations in both countries encourages businesses in both countries to put their business on the internet. Both new entrepreneurs and established entrepreneurs have the opportunity to put their businesses on the internet. E-commerce reduced the cost of marketing and advertising a great deal. Hence the more the profits made by the businesses from the sale, the more the taxes for the government (BRADGATE & WHITE, 2008). Most companies have the ability to take their businesses national and international. Outsourcing the employment to places with cheaper labour is also a trend enabled by e-commerce. Numerous companies have the capacity to meet these regulations since they are not too demanding. It is easier for entrepreneurs to start their businesses. This is because they only require capital and a website for their marketing. Some use their own homes as offices to save on the premise cost until they make better profits. E-commerce eases the worries of awareness and marketing for business starters. This is because information regarding the product reaches a great number of people. Conclusion E-commerce encourages entrepreneurs to invest in all sectors of the economy including business. The regulations in place in different countries ensure the businesses in all countries run smoothly. The regulations put in place for e-commerce ensure mishaps in transactions do not occur. They also ensure the company upholds the business policies of the country despite their being on the internet. References BURGESS, S., SELLITTO, C., & KARANASIO, S. (2009). Effective web presence solutions for small businesses strategies for successful implementation. Hershey, PA , Information Science Reference. SMITH, G. J. H. (2007).Internet law and regulation. London, Sweet & Maxwell CLARK, E. E. (2010). Cyber law in Australia. Alphen an den Rijn, Kluwer Law Internat. BRADGATE, R., & WHITE, F. (2008). Commercial law. Oxford, Oxford University Press. Read More