The Fifa World Cup is fast approaching with less than one month to go. I have been fortunate enough to “bump” into Bafana Bafana so to speak at Wits University yesterday for a training session. Even from a distance it was very exciting to think Bafana Bafana and many other international soccer teams will be competing. It is also great to think about the thousands of fans from all around the world coming to visit. Let us all BEE Motivated.
|Verification Nightmares, and how to turn them into success|
The missing link – The steps required to get a Verified BEE Scorecard
The process of getting a Verified B-BBEE Scorecard can be a very daunting prospect but it needn’t be.
EconoBEE has prepared an easy to follow crash course to help prepare for your BEE verification but before you read through this make sure you understand these critical steps before your next BEE Verification or watch our short video describing the easy steps required.
- The purpose of verification is to ensure that you have an accurate representation of your BEE Scorecard and not to produce your scorecard
- A Verification agency is unable to help improve your BEE Scorecard
- A verified non-compliant score is worthless
- The Verification agency is not going to punish you, but they will also not reward you – you get what you deserve but only if you are prepared
- Any statement you make will be met with comments like – show me or prove it with sufficient and appropriate evidence
- Make certain you know where you are earning your points
- Get as much info about BEE as possible, if you know less than the analysts then you might find your points going in the same direction – down, down, down
- Identify all areas where you can earn points and then collect proof
- Prepare your self assessment before verification
- Use your self assessment as your benchmark during verification. Any differences means something is wrong
- Have you earned every point you deserve
- Follow the EconoBEE 10 Steps to BEE Compliance to ensure success
|Empowerment is all about the B-BBEE Scorecard|
It is fairly common knowledge that BEE is an essential tool to help win tenders with government and the private sector. In essence it has been quite widely accepted that empowerment is an important part of business life in South Africa. It is also quite widely accepted that True Empowerment must take precedence over unethical empowerment deals more commonly known as fronting.
However herein lies, possibly one of the biggest problems empowerment has to face – implementing BEE properly.
Although it is widely known that BEE is important it is not well known that BEE is in actual fact B-BBEE and its sole measurement is via the broad based scorecard. The scorecard itself is the only applicable method of objectively determining “who is the most BEE compliant”. All other forms of measuring empowerment are either nonexistent in terms of the laws or outdated and discredited and should never be used to measure the progress of a company’s BEE status. Not only should they never be used but it continues the incorrect myths that harm true transformation.
Similarly measuring empowerment by means of a Broad Based BEE scorecard requires long term vision and at least a compliant score of 30 points or more to be considered compliant. It is for this very specific reason that companies beginning this process should not get discouraged at achieving a low score initially but rather recognize the areas of improvement for future BEE scorecards. As a cautionary, businesses who are in the early phase should prepare a self-assessment or an internal scorecard to ensure they are reaching at least 30 points. If they do not reach 30 points on the scorecard they should wait until the following year to have their score verified.
Now for a small bit of advice; The BEE scorecard is based on business principles and makes use of “generic” type targets for existing business practices. This often means that a business trying to become compliant will most likely find that existing business practices such as training staff or donating money to various charities is already earning them a substantial number of points. Managers involved only need to find the opportunities and report on them to be BEE compliant.
This is in stark contrast to the notion that the only way to become BEE compliant is through Ownership. Ownership no doubt is the ultimate form of transformation but it is certainly not a fair valuation. The people who will in future be involved in Ownership deals will have the opportunities created for them by businesses now. As a result it is of utmost importance that any business that opens up future economic opportunities should be rewarded now and are continually being rewarded as long as they are positively contributing to the growth of South Africa. After all South Africa is after growth and sustainability which implies Skills Transfer and developing businesses.
We are actually very lucky we have such a practical and objective measurement of transformation. This even with the many negative issues surrounding empowerment activities, is undoubtedly the most successful empowerment initiative South Africa has ever embarked upon.
|Why use EconoBEE for your EME requirements?|
Most people know that if their annual turnover is less than R5million then they are classed as an EME – exempt micro enterprise. They believe that they are exempt from BEE and do not need to take any action. They hope that their customer will recognize them as being exempt and that they will win the business they want.
This is unfortunately not true. An EME is generally, but not always a business with a turnover of less than R5million. Some industries, e.g construction have changed those thresholds.
More importantly it is not sufficient to tell your customer that you are exempt or expect them to guess!
You need to tell your customer why you are an EME, and you need to prove this, usually by means of an auditors letter/certificate.
Why use EconoBEE? We will help phrase the document/letter you need to send to your customer. We help explain to your customer why you are exempt and how it will assist your customer in continuing to do business with you.
Most importantly, we will talk to your customer if he is not satisfied and give him all the documentation he needs to convince him that you have given him the right information. In all cases, we work on the side of our client.
We know of businesses that have tried to explain their EME status to their customer, failed to convince them and lost the business. It won’t happen with us. We will satisfy and convince your customer!
|BEE Knowledgeable – Workshops, Seminars and Conferences|
A great way to get all the knowledge and tools to Become BEE Compliant. Join us in Johannesburg – May 18 and make sure that none of the confusion costs your business valuable time.
|Full day seminar|
|The Practical Implementation of BEE Seminar – BEE is a reality. Smart businesses are already implementing BEE properly and turning it into an opportunity of growing the business. This seminar explains how BEE works but also shows you how to implement it to your best advantage.|
Take advantage of our special offer for EconoBEE V3
|Jhb – May 2010|
|Price: R3249 incl VAT|
Contact 0861 11 3094, email
Visit our website or download our brochure to book.
|Prepare for BEE Verification Conference||Jhb – July 2010|
|Contact 0861 11 3094, email|
|Procurement and Enterprise Development||Jhb – Sept 2010||Contact 0861 11 3094, email|
|Half day BEE workshop|
|Course||Venue and Time|
|BEE Scorecard Workshop – In just half a day go through the BEE Scorecard, the elements, how to do the calculations and finally how to become BEE Compliant with minimum effort.|
|Jhb – 18 May 2010||Price: R1200 incl VAT|
Contact 0861 11 3094, email
Download our brochure to book.
|BEE Scorecard Optimisation Workshop – Customers who require your BEE Certificate actually want you to do well so that they can earn more points. Join us for an interactive, extremely practical morning to optimise your BEE scorecard.|
|Jhb – May 2010||Price: R1200 incl VAT|
Contact and bookings 0861 11 3094, email
For more information on either our workshop or our full day seminar please call EconoBEE on 0861 11 3094. If you are unavailable to attend please contact us and we will inform you when we will next be available to present in your area.
Alternatively if you have a larger group or want a customised BEE training session we can certainly arrange for our expert presenters to present any combination of our courses specifically for you.
While there is demand for a BBBEE Scorecard someone will be taking advantage, shouldn’t that someone be you…
|Not sure how to get a BEE Scorecard, click here to see a demonstration of how best to produce your own BEE scorecard.|
Is BEE procurement a pain? Sort it out quick and easy – click here.
13 May 2010
In this issue
- Verification Nightmares, and how to turn them into success
- Empowerment is all about the B-BBEE Scorecard
- Why use EconoBEE for your EME requirements?
- BEE Knowledgeable – Workshops, Seminars and Conferences
EconoBEE is a BEE consultancy that has developed extremely effective tools to measure and implement Broad Based Black Economic Empowerment. Our services focus on the business side of BEE. Our services include EconoBEE Scorecard, BEE Scorecard Workshops, EME Pack, Document Pack, EconoLog and the 10 Step Process to BEE Compliance.
Our company supports various organisations and drives the BEE Expert Group to help maintain and develop knowledge in the BEE industry.
Already have a BEE Certificate?
Please send it to us and we will include it in our BEE Procured database.
Tel: 0861 11 3094 or 011 483 1190
Fax: 011 483 1195
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