On Thursday (October 17), Consumer Affairs Victoria revealed that it had “cracked down” on businesses ignoring laws around the state.

Minister for Consumer Affairs, Heidi Victoria, said that 124 court and enforcement actions had been taken against such business during the past financial year.

She explained that many were “trying to rip off consumers and other businesses” in the areas of product safety, real estate, motor car trading and fair trading.

Hair Science International Pty Ltd, for example, was forced to pay a penalty of $100,000 “for making false claims that its treatment could regrow hair, when clients were actually given a hairpiece”.

Ms Victoria said the government wants consumers and businesses to “feel confident” when they are working with local traders and retailers.

So, Consumer Affairs Victoria is working hard to undertake compliance visits, create and update online tools that will help businesses understand their responsibilities, as well as launch “trader checklists”, so businesses can ensure they are following the law.

Your business may be visited at any time by Consumer Affairs Victoria to check your compliance.

If you would like to make sure your business is covered if and when you are found responsible for injuring a third party or causing damage to their property, you may want to consider your small business insurance options.

There is a wide range of cover available, so talking to MGA Insurance Brokers about which types could benefit your business is a good idea.

For instance, if you are the director, secretary or executive officer of a business, you may want to look into directors and officers insurance.

This will cover you if a claim is ever made against you for committing a “wrongful act” that results in a loss-causing event.