Navigating BEE can be confusing and overwhelming because each individual business had to be assessed to determine its BEE compliance requirements.
In general, the BEE compliance is based on the following elements:
• Turnover of the business
• Ownership
• Management Control
• Skills Development
• Enterprise and Supplier Development
• Socio Economic Development
Each of the above elements need to be evaluated in order to understand the business’s BEE compliance requirements.
Thereafter a BEE Compliance plan has to be drawn for the business for it to achieve the required compliance level.
Entities will then be evaluated by a SANAS accredited BEE valuation agency to determine the BEE level of the business.
Contact us for a free first consultation towards your businesses BEE compliance.
B-BBEE for TURNOVER UNDER R10M
Affidavit
Business with less than R10 million annual turnover and 100% black ownership qualify for a LEVEL 1 BEE automatically. They are further not required to undergo an assessment to establish that. A simple affidavit is sufficient for such businesses.
Contact us to get a FREE copy of your BEE affidavit
Not sure what your business needs?
Contact us to discuss your specific needs in order to create a personalised accounting plan for your business.
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