UNDERSTANDING BBBEE

 

Aim of Broad Based Black Economic Empowerment?


• An integrated and coherent socio-economic process

• Directly contributes to the economic transformation of South Africa

• Brings about significant increases in the number of black people that manage, own and control the country’s economy

• Significant decrease in income inequalities


Types Of Enterprises:


Exempt Micro Enterprises:

Your business falls into this category if your turnover falls below R10 million per annum. It automatically qualifies as a 100% contributor towards BEE. Businesses that have a Black Shareholding of more than 51% will qualify as Level 2 BEE contributors. 100% black owned entities under this category will be an automatic Level 1.

Qualifying Small Enterprises:

Your business falls into this category if your turnover falls between R10 million and R50 million per annum. If your business falls into this category then it is measured against a QSE BEE Scorecard. The measured entity must be evaluated on all 5 elements. Businesses that have a Black Shareholding of more than 51% will qualify as Level 2 BEE contributors. 100% black owned entities under this category will be an automatic Level 1.

Generic Enterprises:

Your business falls into this category if your turnover is above R50 million per annum. If your business falls into this category then it is measured against a Generic BEE Scorecard. Your verification is measured in terms of all 5 elements of BEE. There are 5 elements on a BEE Scorecard:


For information on how to get a BEE certificate please contact an Accredited Verification Agency.

HELPFUL LINKS

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