The Australian Business Environment

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INTEGRATING BUSINESS PERSPECTIVES
“The legal regulation of business is a necessary evil in the Australian business environment”. Discuss the arguments for and against this statement using examples of where the law has enhanced and hindered business.
Regulating businesses through the law, allows Australian businesses to flourish, while at the same time, ensuring that all involved are protected. While there are downfalls to the regulation of businesses, the overall benefits of legal regulation, far outweigh the damages caused. This is seen in the case of the Australian Competition and Consumer Commission (ACCC) in which business rights are mandated to ensure a fair business environment for all. However in the case of the Sydney lockout laws, …show more content…

The NSW Liquor Act (2007) was amended by the Liquor Amendment Act (2014) to introduce certain rules revolving around lock out times and alcohol service. While the laws in question, did indeed reduce alcohol related violence by as much as 32% in Kings Cross and 26% in Sydney CBD – it is unknown whether this result occurred due to a fall in alcohol consumption or due to the lower number of people visiting the Kings Cross and Sydney CBD precincts as the laws essentially hindered Sydney night life from thriving. (Menendez et al., 2015) This is due to the fact that the laws sent a number of businesses, which were reliant upon the consumption of alcohol out of business. This then led to other businesses, which were supplemented by those consuming alcohol also having a significant drop in revenue. As such, the renowned Sydney nightlife has significantly dropped with foot traffic down 58% by 11pm on a Friday and down 80% by 4am. Chief Executive of Freelancer, Matt Barrie has stated that “Every week, another venue or restaurant closes. The soul of the city has been

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