|Amended QSE Codes Published|
The long awaited QSE Amended Codes have now been gazetted by the DTI. They have also gazetted amendments to the amended generic codes. This week alone has seen three individual gazettes. As a result of these changes we have been inundated with requests for TV, radio and press interviews.
Many business owners have been very concerned lately over the uncertainty and potential difficulties relating to the Amended Codes. Now that the QSE Codes have been gazetted and that we have received clarification on some aspects, we feel far more relieved that with the right planning small businesses will still be able to achieve a compliant score.
Phase 2 of the Amended Codes contains;
- Statement 003 – Guidelines for developing and gazetting sector codes
- Statement 004 – Scorecards for Specialised Enterprises
- Statement 102 – Recognition of the sale of Assets, equity instruments and other businesses
- Statement 103 – The Recognition of Equity Equivalents for Multinationals
- Code Series 600 – Qualifying Small Enterprises (QSE’s)
The Amendments to the Amended Codes;
- Addition of a 5th Criterion for the Empowering Supplier
- Verification adjustments for EME’s
- Discounting principle clarification
- A complete change to the demographic calculation for Management and Skills Development
The most controversial aspect still remains the massive change from notice 396 of 2015 relating to Broad Based Ownership Schemes and Employee Ownership schemes. Many BEE Verification Agencies and consultants were quite shocked and surprised by this change. Most of them hadn’t realised the potential ticking time bomb those schemes had created with opportunistic advisers believing they had found the perfect loophole. We had discussed some of the issues in past newsletters – we have summarised this ownership issue in an article.
We are hosting various events to help companies cope with the Amended Codes and any major changes to their preparation process. Join us for a free executive overview covering the most important components and how to manage them effectively. Alternatively gain more information through a half day scorecard workshop.
QSE’s can gain a fair advantage over their competitors by being the first to fully understand the newly gazetted legislation. We will also cover practical implementation and offer tools to adequately manage this process. The QSE codes are actually quite interesting. At first glance they look very intimidating, but once we have helped you understand it, you will easilly be able to score good points and a good level – with a little bit of work.
Let our consultants show you how to achieve a compliant scorecard.
Preferential Procurement – Save Time by using the BEE Procured database containing over 60 000 BEE Certificates. Managed Service: Our consultants can phone your suppliers for a BEE certificate – Managed Service.
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08 May 2015
In this issue
- Amended QSE Codes Published
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.
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