For this assessment students are required to conduct a full analysis of a proposed new small business in Australia considering the Regulatory impact analysis. The individual analysis will be guided by...

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Table of Contents
Introduction    3
Regulatory Impact Analysis: The Nutrition and Fitness Industry    3
Guidelines and Implications    4
The Legal Structure    5
New Business Scenarios and Regulatory Impact Analysis    5
Conclusion    6
References    7
Introduction
The impact of small and medium scale business over the national economy is perceived as important. In particular, small business enterprises are subjected to contribute to the growth of internal disoriented and oriented both type of markets. At the same time, for those who tend to increase profitability ratio by investing small amount, sole trading and other types of small business can be good alternatives for success (Kiss, Pfeiffer, Popp, Olah & Lakner, 2020).
In Australian context, the steady growth of the small business sector caters new opportunities, which pertain to the management of small investing; the risk driven factors in small industries are nominal and at the same time, the small business allows the owner to introduce new ideas, as per the policy changes of the government. The following is the proposed analysis of the nutrition and fitness centre, as per the regulatory impact analysis.
Regulatory Impact Analysis: The Nutrition and Fitness Industry
The guidelines of regulatory impact analysis pertain to structure the assessment around the new policy change in a business, which is either small or medium in particular. The regulatory changes are subjected to the changes in the market trends, government policies and the designing of the evolved forms of previous guidelines published on behalf of the government agencies (Bennie, Wiesner, van Uffelen, Harvey & Biddle, 2017).
These guidelines include new provisions that ensure quality business operations. It is expected from small organizations to make sure that they have perfectly guided work culture, as per the publication of the policy changes. At first, it is significant to note here that the in the past two decades, nutrition and fitness sector has gone through revolutionary changes and it is due to the lifestyle changes of people.
Individuals thrive to sustain their physical and mental health because it is promoted everywhere in the common social as well as in their work context. In order to sustain good health condition, it is always sourced by maintaining ideal nutrition status that the body deems necessary. At the same time, exercising on regular bases keeps the body healthy and fit. Thus, a combination of the two, nutrition and fitness, has grown as an individual sector in itself (Bennie et al., 2018).
Not only the products related to nutrition enhancement of people are promoted at large scale, but also the individual based fitness centres are now...