Dictionary

  • Business Set-up, Transfer and Closure (Public Inquiry) 2015

    The Business Set-up, Transfer, and Closure Inquiry was an inquiry undertaken by the Productivity Commission on the instructions of the Australian Government. It investigated barriers to setting up, transferring and closing a business and identified options for reducing barriers where appropriate.

    The inquiry was completed in 2015, and, relevantly, included a recommendation that regulations be implemented to help categorise and shape pre-pack arrangement transactions (which are regarded as legitimate by default, and cannot be clawed back).

    The investigation also included analysis and proposals on:

    • The nature and the scale/extent of barriers to entry and exit that existed for businesses and their impact on economic performance.
    • Appropriate options for reducing these entry and exit barriers, including but not limited to advice on the potential impacts of:
      • the regulation of product and service markets
      • transfers and subsidies to businesses, including import barriers
      • regulations affecting the ease of starting, operationalising or closing a business
      • time spent on and cost of complying or dealing with government regulation, licensing and bureaucracy
      • the personal/corporate insolvency regimes on business exits.

    A copy of the report can be accessed here.

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