EconoBEE - BEE Points = Business
13 Oct
EconoBEE - BEE Points = Business

Friday, 10th October 2014 the DTI issued the Amended QSE Codes. We have already spent a substantial amount of time reading through the gazette, analysing the differences and understanding the impact of points, cost and time for our clients. In the case of the Amended QSE Codes, we realise just how much has changed. With substantial changes to the scorecard, it becomes absolutely vital to understand the legislation as soon as possible. The deadline for submission is the 14th November 2014 which is just one month away. If you don’t offer a submission then the DTI will not know how you feel and as a result will not change anything – which would be disastrous.

Our suggestion is that all small businesses – turnover between R10million and R50million should begin calculating a scorecard on the Amended QSE Codes to see where they are impacted most severely. In the areas where you are impacted begin implementing solutions to once again earn maximum points.

EconoBEE is quite proud to say that we have already implemented the Amended QSE Scorecard into our BEE Scorecard calculator EconoBEE V4. Delegates of our Amended QSE Codes Seminar will qualify for a discount when purchasing EconoBEE V4.

Keep up to date
We will be posting various articles on our website and comments through social media. In addition we have been very active in the press with a number of articles already being published through City Press and Business Day. We will have a TV interview on CNBC Africa on Monday 13th October 2014 at 12:45 and a panel discussion on Classic FM 102.7 this evening discussing the Amended QSE Codes.

 

 


EconoBEE: Initial Comments on Amended QSE Codes

The Draft Revised BEE Codes issued in 2012 stated that the QSE codes would also be amended, and they would be issued in due course. In October 2013, exactly a year ago the final Amended Generic Codes were issued. It was again stated that the QSE codes would be issued in due course.

On the10th October 2014 the dti finally issued the long awaited QSE Amended Codes for public comment. The comment period closes on 14th November 2014.

The Amended QSE codes are due to come in affect on 1st May 2015. Any QSE verification performed after 1st May 2015 will use the Amended QSE scorecard.

QSEs are entities that have an annual turnover of between R10m and R50m and are not part of an industry that has a gazetted sector codes. The QSE scorecard only affects businesses that are less than 51% black owned. QSE businesses that are 100% black owned are automatically level 1, and those that are more than 51% black owned are automatically level 2. All others have to follow tis scorecard.

The QSE Scorecard

ElementPoints
Ownership25
Management control15
Skills Development25
Enterprise and Supplier Development30
Socio-economic Development5
Total100

Read more…

 

 


Business Day: BEE codes for small companies chided


by Samuel Mungadze, 13 October 2014, 05:58 – Business Day

NO SOONER had the Department of Trade and Industry published new codes that require black economic empowerment (BEE) in small business than critics emerged, arguing that the move would stymie small business.

The government and private sector are being urged to promote small to medium enterprises, which are expected to create 90% of the 11-million jobs the National Development Plan says SA needs by 2030.

The new requirements were gazetted on Friday, with the comment period ending on November 14. They are for businesses with a R10m-R50m annual turnover.

The codes are aimed at boosting small business participation in the mainstream economy.

They are due to come into effect on May 1 next year.

BEE verification agency Veri-Com’s CEO Deon Oberholzer said that the new regulations were bound to mostly affect white-controlled companies. “For black business it will be fine, actually better. Only white-controlled companies will need to comply.”

BEE advisory company EconoBEE CEO Keith Levenstein said small enterprises that were subject to the codes would “find it extremely difficult to get any reasonable score, due to the harsher points to level the table”.

The Department of Trade and Industry promised to issue a statement on the issue on Friday, but had not done so by Sunday.

Read more...

 

 


City Press: BEE codes for small business flex muscle


Dewald van Rensburg    City Press   12 October 2014 15:00

The long-awaited new BEE codes for small companies are far tougher than their 2007 predecessor.

According to Keith Levenstein of consultancy EconoBEE, they could knock a company currently enjoying level 2 status all the way down to level 8 without them doing anything differently, depending on how their BEE score had been constituted.

The new codes of good practice for so-called qualifying small enterprises (QSEs) were gazetted for comment on Friday.

QSEs are companies with an annual turnover of between R10?million and R50?million.

The codes only apply to companies that are majority white-owned.

Any company of that size, which is more than 51% black-owned, automatically becomes a level-2 contributor. If black ownership is 100%, the company gets a level-1 score.

Although the generic BEE codes applying to all larger companies were replaced last year, it has been seven years since the rules for smaller companies were revised.

The hallmark of the proposed revision is tougher targets and less concessions, according to Levenstein.

The period for comments closes on November 14.

One proposed change is that QSEs are chasing points out of a total of only 100. Large companies applying the generic scorecard can theoretically achieve 118 points, meaning there is more room to fail in certain criteria.

One area where the QSEs will have it easier than larger companies is in procurement. The generic codes require 40% of procurement to be from 51% black-owned suppliers.

Read more...

 

 


Amended QSE Codes


Knowledge of B-BBEE and in-particular the QSE Amended Codes is vital to a long term BEE strategy, however knowledge will only take you to a point. Our experts have not only gathered an immense amount of knowledge on this topic but they have already implemented and calculated scenarios using the QSE Amended Codes. As a result they are able to give you –

  • How to earn points using the QSE Amended Codes
  • Answers to specific questions around your requirements
  • Strategies, interpretation and implementation
  • Best practice and methodology
  • Record keeping
  • Planning for your verification
  • Practical Exercise: How to develop your BEE profile, BEE policy and policies for each element
  • Practical Exercise: Calculating your own BEE scorecard

Date:16th October – JHB – Gallagher Estate
Additional Johannesburg,
Durban and Cape Town event details to follow.

We will be hosting additional events based on demand. In-house presentations available on request to a minimum of 10 delegates.

Time:8:30 for 9:00 – 15:30
Price:Special
EconoBEE Scorecard V4 software worth R5130.00 at a discount of R2280 plus Vat to all delegates.

R1750 excl VAT (R1995 incl VAT) or R4275 incl Vat including EconoBEE V4.

Booking Details:Email info@econobee.co.za
Contact 011 483 1190
Book online or download our brochure.

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Let our consultants save you time on B-BBEE.

Preferential Procurement – Save Time by using the BEE Procured database containing over 50 000 BEE Certificates. Managed Service: Our consultants can phone your suppliers for a BEE certificate – Managed Service.
 


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While there is demand for a B-BBEE Scorecard someone will be taking advantage, shouldn’t that someone be you…


Want us to manage your BEE Process – Managed Service.

Turnover below R10 million – find out how to get your BEE Exemption.

Is BEE procurement a pain? Sort it out quick and easy – BEE Procured.

Need a scorecard – produce one yourself – EconoBEE V3

 
EconoBEE Newsletter
 13 October 2014

In this issue

  • EconoBEE: Initial Comments on Amended QSE Codes
  • Business Day: BEE codes for small companies chided
  • City Press: BEE codes for small business flex muscle
  • Amended QSE Codes

In other news

About EconoBEE

EconoBEE is an expert BEE consultancy. EconoBEE helps businesses Become BEE Compliant, prepare for verification, earn maximum BEE Points and ensure that they achieve the BEE Level they need to get more business.

Our services include BEE Management Systems, Training, EME Pack, Complete Managed Services, consulting and advisory and Procurement Solutions.

As leaders in the industry we are driven 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.


Contact Us

Tel: 011 483 1190
Fax: 011 483 1195
Email: info@econobee.co.za
Web: www.econobee.co.za


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Remember
BEE Points = Happy Customers = Sustainable Business
 


Regards
Gavin and the EconoBEE Team
 

  
Executive summary of B-BBEE

Turnover below R10 million per annum – automatic BEE status

 

Turnover above R10 million per annum – you need a BEE Scorecard. Our workshops, scorecard tools, procurement manager or a complete managed services will be best for you.

 

Your time on your business, our time on your BEE status

Tip:

Amended Codes preparation needs to begin immediately. Through our managed service prepare early and gain a competitive advantage.

 

10 Strategic Steps to B-BBEE!
 We have prepared an easy to follow guide “B-BBEE in 5 Minutes” and “Crash Course to BEE Verification” which explains BEE in a simple step by step approach.

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