What is BEE?
BEE stands for Black economic empowerment put in place by the South African government to address historical imbalances of the country by encouraging participation of black people in the South African economy. This growth strategy not only diversifies the economy but also brings in previously disadvantaged into the economy.
What is a BEE certificate?
This certificate shows a company’s BEE level of compliance. Levels range from 1 which is the highest status through to 8 which is the lowest. Having a high-status level can equip small companies to compete bigger companies who do not have a BEE Rating for contracts/ tenders.
Why do companies need BEE certificate?
According to CIPC a business with a turnover of less than R10 million rand do not require a B-BBEE certificate however an Affidavit signed by a Commissioner of Oaths can be used.
The main benefit of having a BEE certificate is being able to do business is government sectors by allowing business to tender. The rating also shows how the business is doing within the requirements thereby allowing you to participate as a supplier and able to do business within government sectors.
What is BEE scorecard?
Essentially this is a way approved by government to measure a companies BEE status. The scorecard consists of elements such as Ownership, Management, Employment Equity, Skills Development, Preferential Procurement, Enterprise Development, Socio Economic Development. Each element is allocated a specific weight in percentages. A company should aim to achieve as many points as possible out of a total of 100 in order to improve their chances of gaining new business.
How do I get a BEE certificate?
To apply for BEE certificate simple fill out this contact form and an agent will be in touch with you.