Implement BEE with Innovation – EconoBEE Newsletter Aug 07

Implement BEE with Innovation and Business Sense

BEE as a new business environment has been solidly established and is causing some companies great stress. Some companies are threatening to stop buying from suppliers who do not have a BEE Scorecard. Companies are constantly being asked to become BEE compliant and may even risk losing big deals if they do not respond. This is obviously a tough environment in which to do business.

Fortunately some of the elements of the BEE Scorecard are being implemented in your business anyway – because it is required for to do so in order for you to continue running the business and also simply because it makes good business sense. We know that some managers are recognising the need for BEE, but are having trouble making the changes in their business and implementing BEE.

This is where we can help.

We have always been an innovative industry leading company that constantly develops more effective ways of implementing Black Economic Empowerment. We have assisted many companies with BEE and helped each one benefit from their BEE compliance.

EconoBEE will be presenting a range of full day seminars around the country starting with Cape Town. This seminar “Practical Implementation of BEE” is ideally suited for companies who have been asked for their BEE status by their customers and realise the need to respond in order to keep the business and for companies who want to expand their business by taking advantage of BEE.

The seminar will be held on the 11th of September 2007 in Rondebosch (Cost R2150.00 per delegate). A detailed information brochure is also available.

We will be scheduling more seminars and developing products which will help you and your business grow.

BEE trends still moving upwards

The BEE industry is slowly moving away from a straight forward BEE Rating to more technically orientated tasks. We see more and more companies make a start on BEE and then find that their scorecard is too low. We have also noticed that more and more companies are trying to improve on their scorecards by focusing on the procurement aspect. This has a double effect; It improves your scorecard and it helps spread BEE.

We have also launched the EconoBEE Reseller business opportunity to take advantage of the growth in the BEE industry.

Along with the growth seen in the BEE industry there has also been a big influx of companies using the Enterprise Development element to try get more points on their BEE Scorecard. Dinoka, EconoServ’s holding company focuses on the business side of Enterprise Development. Dinoka has developed a business model to help companies achieve maximum points on the Enterprise Development element.

New Business Concept

We are in the process of establishing an exciting business venture that will revolutionise the way the BEE industry works… more info coming very soon.

Update: Rating Agencies vs Self Rating

This last week has been very interesting. Rating agencies are scrambling to get their name taken off the radar. Consultants have been analysing and even political parties have got involved to help companies with the cheapest, quickest and easiest way to becoming BEE Compliant. I even know of some companies who are suing rating agencies for anti-competitive business practices and various class action lawsuits.

The Dti BEE Codes of Good Practice does not make BEE verification mandatory. Officially a self rating is perfectly acceptable. As long as a company has accurate data then it must be accepted by clients. In any event it is detrimental to any companies scorecard to eliminate half of their suppliers as non compliant when they are in fact compliant and have done the work to produce and improve on their BEE Scorecard.

At this moment some rating agencies are trying to get more business by telling companies that only an accredited scorecard is acceptable. Please don’t be fooled by this, it is not true!!! SANAS the accrediting body has also not finalised the accreditation process. SANAS estimated that they would be ready to accredit agencies before the end of this year.

If you do come across any companies or rating agencies who are preventing you from submitting a self rating or similar documentation please contact us.

In a future newsletter we will give you some guidelines to follow when dealing with a rating agency. This will assist you in making the best decision and hopefully choose a more reputable rating agency.

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