EconoBEE - BEE Points = Business
22 Sep

 

EconoBEE - BEE Points = Business

Ownership trusts have been an extremely common substitute for Ownership transactions. Trusts and similar schemes always had a dark cloud sitting over them because many believed they didn’t correctly follow the BEE legislation.

Breaking news: This week The BEE Commissioner made her first moves at defining the status of ownership schemes. The impact of which could mean many Employee or Broad Based Ownership schemes will no longer earn BEE points.

EconoBEE is an expert consultancy. Our advice has allowed many organisations to work through and implement long term sustainable strategies that remain inline with the essence of the BEE legislation. Our Managed Service is an effective consulting service to effectively manage BEE. Alternatively if you have a scheme that could soon be outlawed contact us urgently to find the most pragmatic solution.

 

BEE Commission Takes Aim at Ownership Schemes

The BEE Commissioner is doing an excellent job combating fronting. In a short space of time the Commissioner, Zodwa Ntuli has issued Practice Guides, and issued notices to various organisations she felt who were not following the spirit and intention of the codes. The latest media release concerns a consultancy who was advertising easy ways to get ownership points via training courses.

For many years we have been critical of other organisations that were offering trusts as a shortcut to getting good ownership scores. We saw this as contrary to the codes. Many consultants, agencies, legal and accounting firms are complicit in creating trusts that give no real economic interest to the beneficiaries. They say it was created in line with the codes, but they fail to read all the codes. A crucial statement in the codes, that they have missed is:

Read More…

Contact EconoBEE to gather additional information on Ownership or on implementing BEE for your organisation. Click on our website for more information.

 

 


Implementing the Amended Codes


Changes to the BEE legislation will cause most businesses scores to drop substantially which will substantially limit their competitiveness in the market place. Alternative activities to earn points such as changing suppliers might require a radical directional change in business thinking and processes. Identifying points scoring activities while simultaneously eliminating weaknesses is essential to maintaining a satisfactory scorecard.

A good understanding of BEE is perhaps the single best method to cause long term improvements to your companies BEE status.

EconoBEE is proud to offer various courses designed to increase your understanding of BEE.

Course Name
Dates
Full Day Amended BEE Codes
15th December 2016 – JHB
Half Day BEE Workshop
11th October 2016 – JHB
Ownership Structuring – Half day
18th October 2016 – JHB
Employment Equity Committee Compliance Workshop1st November 2016 – JHB


Additional Information:
Contact us on info@econobee.co.za or 011 483 1190.
Booking: Download our registration form.


Let our consultants save you time on B-BBEE.


Preferential Procurement – Save Time by using the BEE Procured database containing over 80 000 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 V4

 
EconoBEE Newsletter
22 September 2016

In this issue

  • BEE Commission Takes Aim at Ownership Schemes

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
Lianne 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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