Latest BEE Developments

The effects of the changes to the BEE legislation have many South African businesses looking for solutions as compliancy grows increasingly difficult. This Article serves alleviate some issues and provide a few workable solutions.

The reduction of the Elements, introduction of the Priority Elements and the increase in Compliance Level Targets have forced businesses to take BEE seriously. Although, there is some relief in the increase of the thresholds, Generic and Qualifying Small Enterprise’s are now required to comply with all of the elements outlined in the BEE codes. Given the delicate circumstances, there is no doubt that businesses ought develop and implement a workable BEE strategy. Here are a few tools and techniques that you may apply in your business to help you deal with the changes.

 

  • Focus on priority elements There are now 3 Priority Elements. Namely: Ownership, Skills development and Enterprise and Supplier Development. Compliance with these elements is imperative to not having your BEE score discounted by one level.
  • Predict your score well in advance The BEE Calculator is a useful tool made available to South African Businesses. The calculator allows South Africa’s businesses to predict their score prior to their verification. Sign up is free. The BEE Calculator
  • Make use of a good consultant Reputable BEE Consultants are able to provide you with detailed insight on the changes and the interpretation of the new BEE codes. An in depth analysis and tailored workable BEE strategies suitable to your companies needs is vital in ensuring the maximisation of BEE points.
  • Set up a Procurement Policy Review your supplier’s BEE Levels, ensuring suppliers add value in the supply chain by being an Empowering Supplier.
  • Become an Empowering Supplier Being a Empowering Supplier is as vital as a BEE certificate as no customer may claim procurement spend if you are not an Empowering Supplier.
  • Engage in Qualifying BEE Initiatives Ensure that Socio Economic development, Enterprise and Supplier development Spend qualifies. Projects such as Job Club screen initiatives and provide a broad spectrum of viable opportunities.

Failing to plan is planning to fail.

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